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LSDefine

Simple English definitions for legal terms

balloon note

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A quick definition of balloon note:

A balloon note is a type of promise to pay money. It requires small payments over time, but then a very large final payment at the end. The small payments usually only cover the interest, while the final payment is for the entire amount borrowed. It's like blowing up a balloon slowly, and then having to pop it all at once at the end.

A more thorough explanation:

A balloon note is a type of promissory note that requires small periodic payments but a very large final payment. The periodic payments usually cover only interest, while the final payment (the balloon payment) represents the entire principal.

For example, let's say you borrow $10,000 with a balloon note that requires monthly payments of $100 for five years. At the end of the five years, you would owe a final payment of $9,500 to pay off the remaining principal.

Balloon notes are often used in real estate transactions, where the borrower makes small monthly payments and then pays off the remaining balance with a large final payment when the property is sold or refinanced.

ballivo amovendo | balloon-payment mortgage

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[deleted by esoterica]
12:12
interestinf
12:12
bruce sutter is ur name bruce sutter
12:12
ommg my first dox
12:12
idk google it
12:13
frick
12:14
a lot of super splitter names and puns have been used over the years
12:15
He was one of the sport's dominant relievers in the late 1970s and early 1980s, making effective use of the split-finger fastball.
12:15
most dominant reliever w the split finger fast ball lets go bruce sutter!!
12:16
He also played for Cubs, where I'm from, the Cardinals, Wash U dream school, and retired to Georgia, where I live
12:16
awe ok wholesome
12:16
And died the day before I took my first LSAT, although I didn't know that when I picked the name
12:18
actually two days before
12:20
scratch that again, one day
rip Bruce Sutter
NosyBeagle
12:32
lol doxxers giving me my address like i forgot it
he also provided an instagram for me that... was not my instagram
12:54
we not st
12:54
sorry
12:54
we’re not dropping anyone’s name in here please!
12:55
just as a general practice
12:58
aw not even our own
13:01
esoterica is mad with power
13:02
im bored at work
13:04
me too they redoing our parking lot and they got a jackhammer right outside my window i'm vibrating
unpopular opinion I love construction noises
13:08
ok thts gotta be the most unpopular opinion i've ever heard
Mostlylegal
13:08
Okay guys i admit it
Mostlylegal
13:09
My names baron trump sorry it took me so long follow me on linkedin
13:10
hi baron
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