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Can a seller call in a loan that is 15 yr conventional. No balloon payment and payments have been made monthly and on time
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If an installment note is current and there is no other incident of default (and there is no other agreement like a security agreement, loan agreement, etc.) normally the answer would be no. For proper analysis, the lawyer would want to see the note and all other written documents.
Answered on Jan 07th, 2015 at 2:26 PM