[Magdalen] hellooooooo

[James Handsfield]

Run, do not walk, but run from any agreement involving a balloon payment.  Failure to come up with a balloon payment is the number one reason for foreclosure, which you want to avoid.

“Education is the most powerful weapon which you can use to change the world.” — Nelson Mandela

Jim Handsfield
jhandsfield at att.net <mailto:jhandsfield at att.net>




> On Oct 24, 2014, at 1:48 PM, ME Michaud <michaudme at gmail.com <mailto:michaudme at gmail.com>> wrote:
> 
> Oh, and if the contract's written with a balloon payment,
> you get monthly checks for ten years and *then* almost
> the full amount of the sale price (since the payments have
> been mostly interest and a teeny bit of principal).