What is the maximum allowable charge for a late mortgage pay

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What is the maximum allowable charge for a late mortgage pay

larry2

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!

Total Reply : 1

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

larry2

Posted on: 01st Apr, 2008 11:48 pm

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