1759 stores Target in the U.S. registered on Stores-Locator.com. Target was originally founded in 1902 as Dayton Dry Goods, but the company has quickly expanded over time. It is headquartered in Minneapolis, where it provides a distribution of products throughout the area.
Quick Answer. HOEPA loans, also called Section 32 mortgages, are mortgage refinancing or home equity installment loans that are covered by the Home Ownership and Equity Protection Act, states the Federal Trade Commission. HOEPA covers high-interest and high-fee loans and bans practices that are considered deceptive or unfair.
A balloon loan is a short-term mortgage with a fixed interest rate and fixed monthly principal and interest payments based on a 30-year amortizing schedule similar to a 30-year fixed-rate mortgage. At the end of the term, which typically lasts for three, five or seven years, the outstanding balance (the balloon) must be repaid.