OTCPK:MEAOD - Post by User
Comment by
Margreton Apr 01, 2013 4:02pm
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Post# 21193845
Giant illegal Balloon
Giant illegal Balloon "The good good job management did negotiating a "balloon payment". If my memory serves it was loans like this that took down the entire USA and bankrupt several financial institutions. This type of loan is not even legal for a lender to propose, but as we all listen carefully it was not the lending institution that negotiated these terms but the Spectacular, superfantastic, MTO management team that negotiated a balloon payment. This type of loan (outside of moneymart) is known as a mortgage buster, junk loan or sharking the client."
So BasherT, tell us why a final $1.399M giant "balloon payment" on a $7M loan is illegal, immoral, mortgage buster, junk loan sharking. When all normal loans would require an even bigger "balloon payment" of the entire amount of $7M when the loan comes due. MTO isn't buying a house and mortgage with it.
Or is that total BS fear mongering again?