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Balloon Payment

Where the final installment payment on a note is greater than the preceding installment payments and it pays the note in full, such final installment is termed a balloon payment.


(1) One entitled to the benefit of a trust; (2) One who receives profit from an estate, the title of which is vested in a trustee; (3) The lender on the security of a note and deed of trust.

Blanket Encumbrance

A single mortgage or trust deed which covers more than one piece of real estate.

Bona Fide

In good faith, without fraud or deceit; authentic; sincere.


Violation of an obligation in a contract.



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