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Balloon Mortgage |
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Could you provide an example of 30 yr fixed, due in
15. Property is a rented triplex. |
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I'm not sure what you're asking, but if you are a real estate investor, or intend to become one, you should have your own accountant (CPA) lined up ahead of time, and that's the person to explain it to you. In general, the mortgage starts out with monthly payments as if it was going to be all paid off in 30 years, but after 15 years, the remaining principal (debt) -- which is more than half the original debt -- must be paid off then and there. |
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Edith
Originally published on September 10, 2008 |
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