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Home Mortgage: The Balloon Loan

A home mortgage with one larger payment at some point is called a balloon loan. This type of mortgage is usually on a second mortgage. With these mortgage loans, most people will sell or refinance before the balloon payment is due. Watch this Expert Real Estate Tips video about these special mortgages and find out if a balloon loan is right for you.

Posted by Ilyce Glink on 01/09/2009 12:30 AM

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Balloon Loans in the ActiveRain Channel

balloon loans, mortgages, second mortgage, refinancing

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1 Comments on Home Mortgage: The Balloon Loan

JAN

2009

Hi Ilyce - I cringe at the thought of a balloon payment. People who are disciplined enough to handle one will probably be ok; however, not everyone is. I guess it's a matter of choice and whether or not it fits into your scheme of things.

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Ilyce Glink

Chicago, IL

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