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SW Iowa | a lot of balloon mortgages are written, for example, 20 years, with an interest baloon after 5. Now why, if a customer was current when the interest balloon came due, would the asset value inter into recalculatings of a new interest rate after it baloons? It is a 20 yr loan with an interest baloon reculation occurance within the 20 yrs. No need to open up the entire original loan docs-----right.
Edited by Itchy 4/4/2011 09:14
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Did anyone see the 60 Minutes tonight
