Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Balloon payment
see payment.
balloon payment
A final loan payment that is usu. much larger than the preceding regular payments and that discharges the principal balance of the loan. See balloon note under NOTE (1).
balloon payment mortgage
A mortgage requiring periodic payments for a specified time and a lump-sum payment of the outstanding balance at maturity.