Bullet


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Related to Bullet: Bullet point

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 ?
Tudor was notching his steel-jacketed bullets, or cutting them blunt, so that they would spread on striking--in short, he was making them into the vicious dum-dum prohibited in modern warfare.
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.
"'Twas the last charge in my horn and the last bullet in my pouch, and 'twas the act of a boy!" he said; "what mattered it whether he struck the rock living or dead!
Still his bullets fell in the center of the crouching party.
"I suppose," said Flambeau, "that you've got some notion in your head, but it won't easily get the bullet out of his.
A bullet glanced on the stern and sang off to starboard like a spiteful bee.
His finger closed upon the trigger--there was a flash and a report, and Malbihn's giant frame jerked to the impact of another bullet.
"He show'd me his private mark, himself, and boasted of the number of deer he had laid upon the prairies with these very bullets! Now, Ishmael, will you believe me when I tell you the old knave is a spy of the red-skins?"
But the fact which clearly opened my eyes to the true state of the case, was the affair of the bullet, found by Mr.
The man, though he was evidently wounded by our bullets, was now twenty yards ahead of us.
With the passionate song of the bullets and the banshee shrieks of shells were mingled loud catcalls and bits of facetious advice concerning places of safety.
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.