Note With Balloon Payment In Montgomery
Category:
State:
Multi-State
County:
Montgomery
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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Edit, sign, and share balloon mortgage note online. No need to install software, just go to DocHub, and sign up instantly and for free.A balloon payment clause refers to a provision in a loan agreement that requires the borrower to make one large payment at the end of the loan term. A balloon payment is a large one-time amount due at the end of a loan. Mortgages, auto loans, and business loans have been structured for balloon payments. Balloon payments are lump sum payments that are typically due at the end of the loan term. These conditions are: (a) I must still be the owner of the Property subject to the Security.