When you are looking for an ideal home to live and you go to a real estate agent or a broker or even a builder, they might use jargons which you might not know.
But we give you a solution!!
Read this space every Tuesday & Wednesday for Real Estate Jargons.
- A mortgage loan that requires the remaining principal balance be paid at a specific point in time.
- For example, a loan may be amortized as if it would be paid over a thirty year period, but requires that at the end of the tenth year the entire remaining balance must be paid.
- A large loan payment to clear a debt.