Promissory Note With Balloon Payment For Mortgage In Georgia
Category:
State:
Multi-State
Control #:
US-00425BG
Format:
Word;
Rich Text
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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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Set loan terms with larger payments at the end. The obligation of the Borrower to make the payments required to be made under this Note and to perform and observe any and all of the other covenants and.Here's the information you'll need to have handy to complete your secured promissory note, installment with balloon final payment.