---

maximum real estate interest in California

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
Guest1 Guest	Posted: Sun Mar 06, 2011 11:22 am    Post subject: maximum real estate interest in California Like 0 Dislike 0 What is the max interest rate that can be charged by the seller on the loan when seller is financing? Can interest be charged on the late fees?
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Sun Mar 06, 2011 7:33 pm    Post subject: Like 0 Dislike 0 Hi Guest, It will depend upon the seller as to what interest rate he will charge on seller financing. Normally, the seller will charge the interest rate as going on in the market. The sellers, generally, do not charge interest on late fees. _________________ Procrastination is the enemy of your financial success
xtoner Guest	Posted: Mon Mar 26, 2012 7:56 pm    Post subject: Seller financing with deed of trust Like 0 Dislike 0 I bought a property from a man in california. It was a seller financed deal secured by a deed of trust. the late fee says $20 a day plus 10% of the payment. It seems like a loan shark to me. After 2 months of payments are due I am paying a compound of two $20 a day payments and so on. Is this illegal?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Tue Mar 27, 2012 12:22 am    Post subject: Like 0 Dislike 0 Hi xtoner! Welcome to forums! In a seller financed deal, both you and the seller decide upon the terms and conditions of the deal. You should have read the documents before you signed on them and could have objected to it then and there. I don't think that the terms and conditions of the deal will be considered as illegal. Nevertheless, you should contact an attorney and take his opinion in this matter. Feel free to ask if you've further queries. Sussane

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0