Interest Only Promissory Note With Balloon Payment In Contra Costa
Category:
State:
Multi-State
County:
Contra Costa
Control #:
US-00425BG
Format:
Word;
Rich Text
Instant download
Description
A Balloon Note is a Promissory Note that has one large payment (the balloon payment) that is due upon maturity. A balloon note will often have the advantage of a very low interest rate, thus requiring little capital outlay during the life of the loan. The major problem with such a loan is that the borrower needs to be self-disciplined in preparing for the large balloon payment due when the loan matures. Of course refinancing the note upon maturity is always a possibility.
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Here's the information you'll need to have handy to complete your unsecured promissory note, interest-only with balloon final payment. Here's the information you'll need to have handy to complete your secured promissory note, interest-only with balloon final payment.A single final balloon payment for the entire outstanding Principal amount and interest accrued will be paid on or before the day of. A promissory note is a legal document specifying a contract's terms. Promissory notes, however, can be invalidated in court under certain circumstances. Borrowers will pay this loan as follows: 1. Periodicity (check one):. A straight note is a written document that outlines the terms of a loan agreement between a borrower and a lender.