A balloon mortgage is a popular financing solution where individual payments are not amortized throughout the duration of the loan. The invalidity or unenforceability of the lien of the insured mortgage.Customer: I have a balloon mortgage. Can the lender pull the note before end of term. Sabal Palm was required to make a balloon mortgage payment in February 1997. Discover Disney Vacation Club, a vacation ownership program or timeshare that can be a more cost-effective way of taking Disney vacations. Login Sign Up Today!