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what are typical late payment penalties

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xscuzmi Joined: 19 Sep 2008 Posts: 2 1.67 Dollars($)	Posted: Fri Sep 19, 2008 2:38 pm    Post subject: what are typical late payment penalties Like 0 Dislike 0 In Texas, what penalties can be assessed for late payments, if the property is commercial and owner financed? What if the payments continue to be late, say 60, 90, and even 120 days, without foreclosure?
Susanne Guest	Posted: Mon Sep 22, 2008 5:23 am    Post subject: Like 0 Dislike 0 Hi xscuzmi! If there are continuous late payments, then the lender can go for a foreclosure. In this way you will lose the house/property. It is always better to pay the payments on time to avoid these kind of hassles.
xscuzmi Joined: 19 Sep 2008 Posts: 2 1.67 Dollars($)	Posted: Mon Sep 22, 2008 12:49 pm    Post subject: reply Like 0 Dislike 0 Thanks for the reply, but I'm more interested in the maximum monetary penalties allowed by Texas law.
jerry Moderator Joined: 17 Oct 2005 Posts: 2708 Location: MICHIGAN 429.63 Dollars($)	Posted: Tue Sep 23, 2008 3:43 am    Post subject: Like 0 Dislike 0 Hi Triggre! Welcome to MortgageFit Forums! The maximum monetary penalty for the late payments does not vary from state to state but it may vary from lender to lender. Hope this will help you. Thanks, Jerry

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