Tennessee Balloon Mortgage - A short-term, fixed-rate loan with low payments for a set number of years and a large balloon payment of the remainder of the principal due at the end of the term.
Tennessee Balloon Refinancing - The process of paying off one loan with the proceeds from a new loan secured by the same property.
Tennessee Balloon Mortgage Loan - A loan for which real estate serves as collateral to provide for repayment in case of default.
Tennessee Balloon Mortgage Cash Out - A refinance for more than the balance of the current mortgage. The excess money taken out reduces the borrower’s equity.
Tennessee Balloon Mortgages.
