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URL:https://www.learndesk.us/class/4746122453057536/lesson/5668329efe080d29acfd5951a23d9306?ref=outlook-calendar
SUMMARY:Custom Mortgages
DTSTART;TZID=America/Los_Angeles:20260527T190000
DTEND;TZID=America/Los_Angeles:20260527T200000
LOCATION:https://www.learndesk.us/class/4746122453057536/lesson/5668329efe080d29acfd5951a23d9306?ref=outlook-calendar
DESCRIPTION: 
Partially amortized
Biweekly
Package
Home equity loans
Purchase money
Reverse annuity
Other loan types

Partially amortized
A loan that has a loan balance at the end of the loan term is a partially amortized, or balloon, loan. The monthly payments of principal and interest are not enough to fully repay the loan amount. A final payment (the balloon payment) is necessary to retire the loan. Florida requires a mortgage with such a loan to be clearly identified on the face of the mortgage, with the balloon payment amount specified.
Biweekly 
If a loan is amortized in the way it would be for a regular amortized loan with twelve monthly payments per year, but payments are scheduled to be made twice per month (biweekly) instead of once, the result is that the equivalent of an extra monthly payment is made each year. This is because there are 52 weeks in a year, which means 26 biweekly payments, which equals 13 months. With this arrangement, the borrower pays off the loan more quickly and...

https://www.learndesk.us/class/4746122453057536/lesson/5668329efe080d29acfd5951a23d9306?ref=outlook-calendar
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