Bullet Loan
Definition of "Bullet loan"
Intermediate debt (5 to 10 years) without periodic payments but the entire amount (balloon payment) is due at the maturity date. If full payment is not made, the lender may foreclose on the property. Stiff prepayment penalties typically exist.
Popular Real Estate Terms
Individual corporation, and so on permitted by law to own property and engage in business. Here, two or more companies operate under common control. Separate economic unit subject to ...
The transfer of a property deed to the original owner upon the satisfaction of a mortgage. A reconveyance is accomplished through a reconveyance deed. For example, upon making the final ...
(1) Reconciling the records to show agreement. (2) Agreement of the records to physical amounts. ...
Group of rental occupants acting together. ...
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