Balloon Payment: Under an installment loan agreement, a final payment that is substantially larger than the previous installment payments and repays the debt in full, the remaining balance that is due at maturity (stop date) of a note or obligation.

 

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Balloon Payment: A scheduled payment due at the end of a loan term that is substantially greater than the regular monthly payments. This may be a very large payment. It is designed to occur when the regular . . . View Full Definition

Balloon Mortgage: With a balloon mortgage, you make monthly payments over the mortgage term, which is typically five, seven, or ten years, and a final installment, or balloon payment, that is significantly la . . . View Full Definition

Payment-In-Kind (PIK) Bond: A bond that gives the issuer an option (during an initial period) either to make coupon payments in cash or in the form of additional bonds.

Payment Threshold: The minimum accumulated commission an affiliate must earn to trigger payment from an affiliate program.

Payment Schedule: This information on the Truth in Lending Disclosure Statement shows the amount of the first loan payment, the amount and number of the regularly scheduled payments (usually monthly), the amo . . . View Full Definition

Payment-In-Kind (PIK): In general, a payment made in the form of CCC-owned commodities (or title to them) in lieu of cash. This form of payment was widely used during the 1980s for paid diversion, deficiency payme . . . View Full Definition

Payments In Lieu Of Taxes (PILT): A program administered by the Bureau of Land Management of the Department of the Interior to compensate counties for the tax-exempt status of federal lands: the fixed payments per entitlemen . . . View Full Definition

PIK (Payment-In-Kind) Securities: Highly speculative bonds or preferred stock that pay interest or dividends through additional bonds or preferred stock.

Periodic Payment Plan: Accumulation of capital in a mutual fund by making regular payments on a monthly or quarterly basis.

Payments Pattern: Describes the collection pattern of receivables. The pattern might describe the probability that a 72-day-old account will still be unpaid when it is 73 days-old.