Printer Friendly
The Free Dictionary
982,301,293 visitors served.
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

balloon payment

   Also found in: Medical, Legal, Financial, Wikipedia 0.01 sec.
balloon payment
n.
A final loan payment that is significantly larger than the payments preceding it.

?Page tools
Printer friendly
Cite / link
Email
Feedback
Add definition
? Mentioned in ? References in periodicals archive
No references found
 
Los Angeles is one of the few cities in the nation with a law on the books regarding predatory lending - usually marked by loans that have high interest rates, large monthly payments and a balloon payment at the end.
For instance, if a borrower wants to put debt on a property for two years, there are terms ranging from five, seven and ten years on a 25-30 year amortization schedule, with a balloon payment at the end of the period.
The latter can be accomplished either by making larger payments after the employee returns to work, or the employee can continue to pay the same amount as prior to the leave, then make a balloon payment at the end.
 
Dictionary/thesaurus browser? ? Full browser
 
 
Dictionary, Thesaurus, and Translations
?

Disclaimer | Privacy policy | Feedback | Copyright © 2008 Farlex, Inc.
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. Terms of Use.