Posted on: 14th Oct, 2009 01:12 pm
DOES A BALLOON MORTGAGE HAVE A GRACE PERIOD AFTER THE MATURITY DATE
probably not.
ask the lender or read your mortgage note for the terms.
while there probably is no grace period, i am guessing that if you do not sell or refinance by the balloon date, the lender would have some vested interest in working something out as it would cost them a lot of money to foreclose.
is the balloon mortgage a first mortgage or second mortgage? commercial loan or residential loan?
ask the lender or read your mortgage note for the terms.
while there probably is no grace period, i am guessing that if you do not sell or refinance by the balloon date, the lender would have some vested interest in working something out as it would cost them a lot of money to foreclose.
is the balloon mortgage a first mortgage or second mortgage? commercial loan or residential loan?
you want to contact with lenders for this topic
