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#2167958 - 03/13/18 08:51 PM Balloon loan less than 62 months
Red Raiders Offline
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Red Raiders
Joined: May 2013
Posts: 1,054
Compliance Land
We inadvertently did a balloon loan on an in-house mortgage refinance that was 59 months. We normally do these as 62 month balloons. Can we just do a change in terms and extend out the maturity date another 3 months or does this not fix our problem?
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Lending Compliance
#2167962 - 03/13/18 09:00 PM Re: Balloon loan less than 62 months Red Raiders
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 77,568
Galveston, TX
If I shoot someone and then apply a Band-Aid does that negate the fact that I shot them?
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#2167963 - 03/13/18 09:01 PM Re: Balloon loan less than 62 months Red Raiders
Red Raiders Offline
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Red Raiders
Joined: May 2013
Posts: 1,054
Compliance Land
So what you are saying is the cat is out of the bag and live with it? smile
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