LATE FEE POLICY
LATE FEE POLICY
Late Fees will be charged to borrower at $200 per day, effective immediately after closing date.
Late Fees will be charged to borrower at $200 per day, effective immediately after closing date.
Example:
$5,000 borrowed,
Example:
$5,000 borrowed,
40% fee: +$2,000
40% fee: +$2,000
= $7,000 due at closing
= $7,000 due at closing
= $200/day late fee's due per day, immediately after closing.
= $200/day late fee's due per day, immediately after closing.