The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: 10K a day who wrote (86089)	8/19/2007 10:35:32 AM
From: Tradelite	Read Replies (2) of 306849

If you hadn't made that month's payment on time because you were going to soon make a payoff, I can understand the late fee, but maybe I didn't understand what you meant. People often think that because they are going to settlement in the middle of a month that they can skip payment or make partial payment for that month and all will be taken care of. Not so....lenders want the full monthly payment and then want to refund the overage, and sometimes this overage is refunded a long time after closing. Same with property taxes--you gotta pay the full amount for the period and wait to get the overage credited back at settlement. Unfair, maybe, but that's the way it is.

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