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I saw this in the description of an income property with an assumable mortgage. I looked for this sort of thing on mtgprof and it wasn't obviously there. I take it to mean that it is a mortgage with payments computed as if it was 30 years but which "balloons" for a payoff payment at 20 years. Is this right, and if not, what is it?


Foobarista, trying to learn...
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