Balloon Amortization+ 1.2 |
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This program is a balloon payment schedule that demonstrates the effect of reducing initial payments and either making a large payment at the end of the balloon period or refinancing the loan.Bankers are currently touting mortgages with a one to five year balloon. What they don't tell you is that the interest is usually based on a 30 year term which, unless you know "THE NUMBERS" can result in a shock to your system.
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