Ask Experts Questions for FREE Help !
Ask
    daschm88's Avatar
    daschm88 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jun 15, 2014, 08:39 AM
    If a balloon payment becomes due on a date that falls on the weekend,
    If a balloon payment becomes due on a date that falls on the weekend, is it extended to the next business day?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Jun 15, 2014, 08:54 AM
    Depends on what is listed in the contract. Common usage is yes. But there is no law on it. So I would not risk guessing. Contact the other party in the contract and make sure. If you will have the money on Monday, then you should have it on Friday.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #3

    Jun 15, 2014, 10:23 PM
    It will depend on wording in contract as Scott said If it was my contract, then no, the day due, is the day due. Buyer is just required to have payment in prior to that date.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Jun 16, 2014, 04:48 AM
    Also, if the payment is mailed, it should be postmarked on or prior to the due date. If it will be hand delivered then you should check as I said.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Date for this weekend refuses to communicate! [ 13 Answers ]

For 4 months I've been chatting online with a man who lives 2 hours away. A month ago he asked me out and we agreed to give a relationship a try. Due to scheduling conflicts on both sides, our date was set for this Saturday, May 14. The plan was for him to come to my city. After that, we had a...

5 year balloon is coming due. What are my options? [ 1 Answers ]

I hold a mortgage with a 5 year balloon on a property I sold. The 5 years is coming up and I want to know what my options are. Do I renegotiate?

5 year land contracts with a balloon payment! [ 1 Answers ]

My parents were offered a 5 year land contract with an option for 5 more. As they get closer to signing the contract the contract now has only the option for 5 (no more 5 year extra). They are doing a land contract because they were foreclosed on. What are the chances of them getting financed...

Contract balloon payment [ 3 Answers ]

Hi, I am considering a Contract for Deed purchase of a home with a balloon due in 3-5 years. I know I can make the home payments, but my concern is financing the balloon. If housing prices increase while I am paying my Contract, can I use this "difference" to help me pay off the contract? ...

View more questions Search