Balloon Mortgages 101

Balloon mortgages are explained by Foreclosure Process Blog which also has a ton of useful foreclosure information, minus infocommercial fluff and expense.

Advantages and disadvantages for balloon mortgages are discussed and there is also info about pre-payment penalties.

This blog has more good info in the post Foreclosed Real Estate- Do Distressed Properties Make Smart Investments?

The post goes into detail about how banks sell REO’s and foreclosed properties in bulk and at wholesale prices.

Foreclosure Process Blog explains kind of tough concepts very well without giving you a lot of useless fluff.

Check out Balloon Mortgages 101

 

More about balloon mortgages and reverse mortgages

Reverse mortgages are becoming more popular | Mortgage and … – A reverse mortgage allows homeowners 62 or older to borrow up to $417000 of their home’s equity to use any way they wish; the old limit was $352790. They don’t have to repay it as long as they stay in the home. …

Understanding Balloon Mortgages – The good thing is that consumers have more choices, so they can choose the right mortgage for them. But the bad thing is that not everyone understands what’s available. This article will introduce a new type of mortgage called balloon …

 

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