(1) Type of loan where the final payment is substantially greater than the previous payments; also termed partially amortized loan. A debt agreement might stipulate a balloon payment when future refinancing is expected. (2) Last lease payment for a lease asset. It includes the residual value of the asset, which is often greater than previous rental payments made during the lease period.
Popular Real Estate Terms
Court order to seize and sell property because of the nonpayment of taxes, or foreclosure of property. ...
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