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Balloon payment mortgage is a mortgage which does not fully amortize over the term of the note, thus leaving a balance due at maturity. The final payment is called a balloon payment because of its...
A Mortgage In Your 50s
It’s not hard to find a 50-something asking the question, “Am I too old to buy a home?” The answer is, absolutely not. A couple of decades ago, the assumption was that everybody retired around age...