MLchartDataset catalogue

Balloon payment

Term · Law · MLC-T-LAW-000663

A single, large payment due at the end of a loan term, which covers the remaining principal balance after a series of smaller, often interest-only, payments. This payment structure is common in balloon mortgages and some commercial loans. Failure to make this final payment can lead to foreclosure or repossession.

Table 1. Record
IdentifierMLC-T-LAW-000663
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000663",
  "term": "Balloon payment",
  "field": "Law",
  "definition": "A single, large payment due at the end of a loan term, which covers the remaining principal balance after a series of smaller, often interest-only, payments. This payment structure is common in balloon mortgages and some commercial loans. Failure to make this final payment can lead to foreclosure or repossession.",
  "url": "https://mlchart.com/terminology/law/balloon-payment/"
}

Record 455 of 5,445 in Law terminology (MLC-0107). Request the full dataset.