Balloon Payments for Small Creditors

In September 2015, the CFPB issued new rules relating to whether or not a high cost loan could have a balloon payment at 5 years. A high cost loan is a definition that applies only to ‘owner occupied dwellings’. The link listed below references the article from the CFPB that explains that small creditors CAN have balloon payments in their loans.

Read the article by clicking here.