I've purchased land with 0% down, 20 year note, 5%, with a balloon in 5. 15 years amortization wouldn't be so bad!

@Luke RentzI am going through it at the moment, but I am going through it as a lender.I have had our attorney send the demand letter based on item 18 of the mortgage:Transfer of the property or beneficial interest in borrowerAfter the 30 day demand we will file for foreclosure.

This is outlined in Title 18, Section 1725 of the United States Code, which states that any person who knowingly and willfully deposits any mailable matter such as statements of accounts, circulars, sale bills, or other like matter, on which no postage has been paid, into any letter box established, approved, or accepted by the Postal Service for the receipt or delivery of mail matter on any mail route with intent to avoid payment of lawful postage thereon, shall for each such offense be fined under this title.Violating this law can result in a fine for each piece of mail that is improperly deposited.

Owner financed with 10% down, and 3% interest with a 5 year balloon.

We did a rate and term refinance (no one would do a rate and term in their right mind today but our loan was a matured balloon) on a Fannie Mae loan and did a HELOC behind it.

Doesn't mean you have to amortize over that time period - for example if seller wants all their money within five years you can do a 15 or 20 year amortization with a balloon due at the five year mark.

Or is it better to wait out the seasoning period with your loan balance (I used a HELOC so no hard money lenders or balloon payments) and just refi out in 6 months?

There are commercial mortgages that are 30 years fixed with no balloon or ARM. 

After working with a lot of lenders over the years, the most important thing for me is their level of customer service (will they provide a lender letter promptly for you when you need to write an offer quickly, call the listing agent to help you get your offer accepted, pick up their phone for you, etc.) and do they close on time?

Title companies are catching on more now and are not allowing mobile notaries, do O&E's on any vacant land sales including a letter to the owner's primary address from public records, etc. but some of these are still going through with the money ending up being wired to various scammers.