buying/selling land..

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Nov 10, 2003 | 03:16 PM

sinthetiq

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buying/selling land..

so, how does a balloon payment work?

buyer:
put 10% down
pay monthly interest for 3-4yrs (on the property)
then pay the full amount (of property) in 3-4yrs?

am i wrong?

Nov 10, 2003 | 03:28 PM

HawtPants

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From: Govenator Territory

balloon payment:

where the final installment payment on a note is more than twice as great as the preceding installment payments, and it pays the note in full :dunno:

Nov 10, 2003 | 03:31 PM

sinthetiq

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Quote:

Originally posted by Dªv£
balloon payment:

where the final installment payment on a note is more than twice as great as the preceding installment payments, and it pays the note in full :dunno:

english

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