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
Latin term meaning something in exchange for something else. For example, a person rushes through an order for another in return for having first choice in selecting a parcel of ...
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Records maintained as evidence of ownership of the home and any of its contents. ...
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