A lot of home loans out there amortize fully over 15, 20, or 30 years. That means that after that length of time, they're all paid off and the borrower doesn't owe anything more.
There are others, however, that amortize over the same schedule, but they're due in full after a certain period of time, say 5 years.
Over the last three weeks, we took a look at buying a fully amortizing note and doing various things with it to get a good return on my investment. This week, we'll do some analysis of a note with a balloon instead... and how much we'd be willing to purchase that balloon for.