Bullet

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Bullet

A one-time repayment, often after little or no amortization of the loan. See: Balloon Payment.

Bullet

The final, large payment a loan whereby the property owner makes only small payments for a set period of time (often five, seven or 10 years). At the end of the term, the owner repays the bullet, which is the entire principal and interest at once. For example, during the 2000s real estate bubble, balloon mortgages were common; homeowners made only interest payments followed by a bullet for the entire principal of the mortgage's maturity. Loans with bullets may be useful if the owner expects interest rates to be low at the end of the term and he/she can simply refinance the loans. However, there is a high risk of default because not all owners have the cash to repay the loan at one given time.
References in classic literature ?
Then you pour the powder in, and get hold of a bit of felt from some door, and then shove the bullet in.
His head had been horribly mutilated by an expanding revolver bullet, but no weapon of any sort was to be found in the room.
I thanked fate that I had not left her upon the sands of the Sahara--or put a bullet in her, as I had been tempted to do.
To fire at that sloping forehead I knew would be worse than useless, and so I quickly shifted my aim and pulled the trigger, hoping against hope that the soft-nosed bullet and the heavy charge of powder would have sufficient stopping effect to give me time to place a second shot.
A hundred feet away all anxiety on that score was relieved by Tudor, who made shift with his left hand, and from his automatic pistol hurled a rain of bullets all around Sheldon.
The bullets whanged and banged against it till it rang like a bull's-eye, but Charley grinned in its shelter, and coolly went on steering.
With the report of his rifle the tiger stopped short in apparent surprise, then turned and bit savagely at its shoulder for an instant, after which it wheeled again toward Delcarte, issuing the most terrific roars and screams, and launched itself, with incredible speed, toward the brave fellow, who now stood his ground pumping bullets from his automatic rifle as rapidly as the weapon would fire.
It was of the crash into his body of a high-velocity bullet.
Not a sign of a bullet anywhere--the wound, evidently made by a sharp blade, had penetrated the heart.
A quick, snappy sea was being kicked up by the wind, a condition which prevented fine shooting; and now and again, as we drew closer, we could see the bullets zip-zipping from wave to wave.
The explosive electric bullet went true to its mark, and the great animal turned over in a death struggle.
Happy the blest ages that knew not the dread fury of those devilish engines of artillery, whose inventor I am persuaded is in hell receiving the reward of his diabolical invention, by which he made it easy for a base and cowardly arm to take the life of a gallant gentleman; and that, when he knows not how or whence, in the height of the ardour and enthusiasm that fire and animate brave hearts, there should come some random bullet, discharged perhaps by one who fled in terror at the flash when he fired off his accursed machine, which in an instant puts an end to the projects and cuts off the life of one who deserved to live for ages to come.