Renegotiable rate
An Adjustable rate involving a renewable short-term Balloon loan, in which the Interest rate is fixed during the Term of the Note, but when the balloon comes due, the Lender may refinance it at a higher rate.
An Adjustable rate involving a renewable short-term Balloon loan, in which the Interest rate is fixed during the Term of the Note, but when the balloon comes due, the Lender may refinance it at a higher rate.