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Balloon Payment |
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A balloon payment mortgage is a mortgage that has a final payment that is much larger than a regular payment. Borrowers get lower rates and payments for a specific period of time, which usually is anywhere from three years to 10 years. At that point, a borrower has to pay off the principal balance in a lump sum. Under certain conditions, the mortgages can be converted to fixed-rate or adjustable-rate loans . Many borrowers either sell their homes before they get to their due dates or end up refinancing their balances into new mortgages. If you plan on either selling your home, paying it off, or refinancing it before the balloon payment is due, then this type of mortgage is good deal. Pro Save on mortgage costs initially -- a great option if you don't plan on living in the home long.Con Plans sometimes change. If yours do, you will have to pay off or refinance the balance, which takes time, effort and more closing costs .Retrieved from " http://en.wikipedia.org/wiki/Balloon_payment_mortgage "
Spokane County was forced late last month to borrow money from its treasurer's office to make a $2.3 million balloon payment due on more than 200 acres of West Plains land that it bought to facilitate the Geiger Spur rail line relocation project and a big portion of which it now is seeking to sell. [read more]
YOUR VIDEOS Share the videos you've shot - it's easy! Organizers of the Warren County Fair and Balloon Festival recently acquired a new balloon and I was fortunate enough to participate on its maiden voyage. Take a look..... [read more]
AUGUSTA Citing the multimillion-dollar balloon payments to meet the obligations of the state pension plan, two legislative committees want to know if theres any alternative to the constitutional mandate that is one reason for the payments. [read more]
MANILA, Philippines The Department of Finance department and Bureau of Internal Revenue (BIR) will be reviewing the tax payment records of the countrys rice traders and have asked National Food Authority (NFA) chief Lito Banayo to provide them a list of the businessmen. [read more]
All of Kit's supporters should now gather at the St George pub at Bangsar Shopping Centre (owned by Ling himself) and drink to the health of Ling Liong Sik. We don't want anything untoward to happen to him, and we want to see the end of the script. [read more]
Bottom line is this, the system will not begin to change until a Prime Minister go to jail in this country. That is the only real sign things will change. That is how they do it in Korea, Taiwan, Japan, even European countries. [read more]
Whatever the weather on July 31, the atmosphere along the Perkiomen Creek near the Erins Dream house in Schwenksville is sure to be ducky. [read more]
Supporters of the Democrats are trying to use Social Security as a wedge issue. [read more]
Malaysiakini Former transport minister Ling Liong Sik was today charged at the Kajang Sessions Court over his involvement in the multi-billion ringgit Port Klang Free Zone (PKFZ) scandal. Ling, 67, who is also former MCA president, is by far the most prominent politician to be nabbed in recent years. He is charged under Section 418 [...] [read more]
Calendar - by:
Submissions for "Community Calendar" are required two weeks preceding the date of publication. Send to: Mary Ann Bottari, Pioneer Press, 3701 W. Lake Ave., Glenview IL 60026; mbottari@pioneerlocal.com. Information may be faxed to (847) 486-7495. [read more]
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