Balloon Payment definition

Balloon Payment shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.
Balloon Payment. With respect to any Balloon Loan, the related Monthly Payment payable on the stated maturity date of such Balloon Loan.
Balloon Payment. A payment of the unamortized principal balance of a Mortgage Loan in a single payment at the maturity of such Mortgage Loan that is substantially greater than the preceding Monthly Payment.

Examples of Balloon Payment in a sentence

  • Notwithstanding the foregoing, if any Workout, modification or amendment of the Mortgage Loan extends the original maturity date of the Mortgage Loan, for purposes of this paragraph, the Balloon Payment will be deemed not to be due on the original maturity date of the Mortgage Loan but will be deemed due on the extended maturity date of the Mortgage Loan.


More Definitions of Balloon Payment

Balloon Payment means, with respect to the Mortgage Loan, the payment of principal due on its scheduled Maturity Date.
Balloon Payment means, with respect to any Balloon Mortgage Loan, the Scheduled Payment payable on the Maturity Date of such Mortgage Loan.
Balloon Payment shall have the meaning given to such term or any one or more analogous terms in the Lead Securitization Servicing Agreement.