Default Interest: Best Practices, Guidelines, and Thresholds

By |2023-11-03T16:33:32-05:00August 23rd, 2023|Ethics, Featured, Fees, Foreclosure, Loan Terms|0 Comments

Consider these protocols for when to charge default interest and how to develop a default interest policy. Many lenders have provisions in their loan contracts to charge a higher interest rate if a borrower defaults on their loan. The default interest remains in effect until the loan is again current. When determining the rate, it’s [...]