Sentences with phrase «see balloon mortgage»
Also see Balloon Mortgage Back to Top
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This is why you need to be extra careful when requesting a balloon mortgage so as to see that you will be able to have the money when the balloon mortgage loan is due.
As discussed below, the Bureau's research before the proposal informed the Bureau that the following are key loan terms that consumers recognize and expect to see on closed - end mortgage disclosures, together with their settlement charges: Loan amount; interest rate; periodic principal and interest payment; whether the loan amount, interest rate, or periodic payment can increase; and whether the loan has a prepayment penalty or balloon payment.
See § § 1026.37 (c) and 1026.38 (c) and their commentary for projected payment disclosures for balloon payment mortgages.