Balloon Payment

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#2084478 - 06/21/16 08:49 PM Balloon Payment
Banker57 Gold Star Joined: Jul 2010 Posts: 439 Minnesota	If you have a fully amortized loan of say 48 payments, is the 48th payment considered the balloon payment, and can a late charge be assessed to the final balloon payment?
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#2084582 - 06/22/16 03:09 PM Re: Balloon Payment Banker57
RR Sarah Power Poster Joined: Mar 2004 Posts: 2,507 Up North	If you have a fully amortizing loan, you shouldn't have a balloon payment. Is the 48th payment larger than the other monthly payments? _________________________ Sometimes you have to burn a few bridges to keep the crazies from following you.
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