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I Was Impressed With Joan's...Stately Presence
At our first meeting I was impressed with Joan's polished, refined, stately presence and her demonstrated knowledge of the real estate market in Stamford. Her tenacity to follow up with each and every detail, from initial inspection of the properties with us, to counsel regarding necessary refurbishing, to the listing process, to the marketing program, to coordination with buyers agents and with the many other parties and institutions that become involved with the selling of property has been extraordinary.
Samuel B. Conrad, Business Manager
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Financing Your Home >Balloon Mortgages
In loan terminology a "balloon" is the unpaid loan balance that must be paid in full on a specified due date. Federal savings and loan associations are permitted to make balloon mortgages with as little as five percent down and monthly payments that are smaller than the amount needed to fully amortize the debt. On the due date, which may be only a few years after the loan was made, the balance must be paid off or the loan must be renegotiated. Balloon borrowers must be cautious and plan carefully to avoid overlooking balloon payment obligations. It is easy to be lulled into complacency by the easy monthly payment terms.
Today's complex economics have produced a wide variety of options for potential borrowers, who are often surprised by how much house they can afford to buy. Loan approval is ultimately in the lender's hands, but your real estate agent can help you to determine your real buying power.
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What does "contingency" mean in real estate?
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A contingency is a specified event that must take place before a home purchase contract is binding; for example, a sale can be said to be "contingent upon the sale of the buyer's current residence." |
 See More Real Estate Trivia > |
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