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LSDefine

Simple English definitions for legal terms

balloon note

Read a random definition: pretermitted spouse

A quick definition of balloon note:

A balloon note is a type of promise to pay money. It requires small payments over time, but then a very large final payment at the end. The small payments usually only cover the interest, while the final payment is for the entire amount borrowed. It's like blowing up a balloon slowly, and then having to pop it all at once at the end.

A more thorough explanation:

A balloon note is a type of promissory note that requires small periodic payments but a very large final payment. The periodic payments usually cover only interest, while the final payment (the balloon payment) represents the entire principal.

For example, let's say you borrow $10,000 with a balloon note that requires monthly payments of $100 for five years. At the end of the five years, you would owe a final payment of $9,500 to pay off the remaining principal.

Balloon notes are often used in real estate transactions, where the borrower makes small monthly payments and then pays off the remaining balance with a large final payment when the property is sold or refinanced.

ballivo amovendo | balloon-payment mortgage

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18:39
Yeah I would delay as long as you have plausible deniability
TGM
18:40
I actually do have a transcript issue that registrar needs to resolve, should I say that
TGM
18:41
(Course marked as Incomplete that’s supposed to be removed)
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
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