Definitions for "Balloon Payment Mortgage"
a loan that requires a large lump-sum payment at the end of the loan period
Usually a short-term fixed-rate loan which involves small payments for a certain period of time and one large payment for the remaining amount of the principal at a time specified in the contract.
Usually a short-term loan involving small payments for a set period of time and one large payment for the remaining principal balance at a specified time.
Keywords:  bankruptcy, beneficiary
Bankruptcy Beneficiary