Posted by John Behle on January 22, 1999 at 16:10:45:
The face value and current balance are usually interchangeable - the same thing. Some refer to the face value as the original balance of the note. The only way that stays the same is if there are interest only payments.
The total of the payments never exceed the value of an amortized note. If someone has stated that in an ad or conversation - then something is wrong or has been left out.