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balloon mortgage
#1
Does it exist?


http://www.tassapat.com
 
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#2
Balloon loans does not exist with residential mortgages. Balloon loans exist with hard money loans and commercial loans. With balloon loans, the loan is due at the end of the term such as 3 year balloon, 5 year balloon. Even if you have been payment your mortgage loans on time for the period of the loan but when the term is over, the whole principal is due or the lender can foreclose on you even if you have been timely with your loan.

 
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