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
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Individual having permission to act ob behalf of a bank or other financial institution in a specified locality to attract interest borrowers. ...
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People often ask themselves, what does interim mean? By definition, interim means a break or pause in a particular activity. As an adjective, interim means a temporary, provisional, or ...
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