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What is the maximum allowable charge for a late mortgage pay

Posted on: 01st Apr, 2008 11:07 am
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!
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
Posted on: 01st Apr, 2008 11:48 pm
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