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Foreclosure Glossary
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
balloon mortgageA mortgage with periodic installments of principal and interest that do not fully amortize the loan. The balance of the mortgage is due in a lump sum at a specified date, usually at the end of the term.
balloon paymentThe unpaid principal amount of a mortgage or other long-term loan due on a specified date in a lump sum.
bankruptOne who has filed Bankruptcy. Debtors may file a bankruptcy case under one of the following chapters of the Bankruptcy Act.
brokers price opinion (BPO)An opinion or estimate of value. Also refers to the process by which a value estimate is obtained.