Balloon payment mortgages generally must be refinanced.

Name: Balloon payment mortgages generally must be refinanced.
Brand: Quizplus
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Balloon payment mortgages typically have large payments due at the end of the loan term, which may be difficult for borrowers to pay in full. Refinancing the loan can allow borrowers to convert the balloon payment into a new loan with smaller, more manageable payments.

Balloon Payment Mortgages Generally Must Be Refinanced