Balloon Payment: What It Is, How It Works, Examples, Pros and Cons
They are often taken with the intention of refinancing before the balloon payment is due. In exchange for a payday loan, the borrower usually gives the lender a postdated check for the full amount borrowed, plus fees. Or the borrower might authorize the lender to electronically withdraw that amount from their bank account on the Read more about Balloon Payment: What It Is, How It Works, Examples, Pros and Cons[…]