Balloon Amortization Sureties For Debts In Cook
Category:
State:
Multi-State
County:
Cook
Control #:
US-00425BG
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Word;
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A Balloon Note is a Promissory Note that has one large payment (the balloon payment) that is due upon maturity. A balloon note will often have the advantage of a very low interest rate, thus requiring little capital outlay during the life of the loan. The major problem with such a loan is that the borrower needs to be self-disciplined in preparing for the large balloon payment due when the loan matures. Of course refinancing the note upon maturity is always a possibility.
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Do you need help understanding your debt financing terms? (1) Balloon payments.The offered certificates will represent interests only in the trust identified above. They will not represent interests in or obligations of any other party. The take-out loan will be closed and the interim lender paid off when the conditions of the interim financing letter have been met. Complete a separate chart for each facility that is a part of the project and insert following this page.