This is a large final payment that is usually scheduled at the end of a series of smaller recurring payments. It may be included in the payment schedule for a lease, loan, or other streams of payments. Several states prohibit this kinds of payment in loans for goods or services that are mainly for personal, family, or household use.
Balloon Payment
This is a large final payment that is usually scheduled at the end of a series of smaller recurring payments. It may be included in the payment schedule for a lease, loan, or other streams of payments. Several states prohibit this kinds of payment in loans for goods or services that are mainly for personal, family, or household use.
