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ksumberger · Joined: 01 Apr 2008 Posts: 1 1.25 Dollars($)

I am writing up a promissory note and need to know what the maximum allowable charge is if you are late paying your mortgage.

Thanks!

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi ksumberger,

Welcome to the forum.

Charges for making late payments vary from one lender to another but it may be like 5 percent of your due mortgage.

Best of luck,
Larry

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What is the maximum allowable charge for a late mortgage pay