VIEWS: 295 PAGES: 5 CATEGORY: Financing With Debt POSTED ON: 1/22/2011
This document creates a promissory note to pay a debt by regular installment payments, with a final "balloon" payment due at a certain specified end date. A balloon payment promissory note does not fully amortize over the term of the note and leaves a balance due at the end of the payment term. This document may be used by borrowers or lenders who wish to arrange a loan with a series of regular payments, followed by a final balloon payment of any balance owed.
"Installment Promissory Note with Balloon Payment"