Skip to content
BOL Conferences
Learn More - Click Here!

Thread Options
#1947024 - 07/29/14 07:30 PM Timing of Charging Mortgage Late Fees
CLPetro Offline
New Poster
Joined: Feb 2014
Posts: 7
Michigan
I'm looking for some guidance on when and how late fees can be charged to a mortgage loan in CA. I have been informed that if a payment is received at any point in the month it is due that you cannot charge a late fee. My interpretation of sections 2954.4 and 2954.5 is that if the payment is received more than 10 days past the due date then you can charge a fee of at least $5 but no more than 6%.

Any help on this would be great.

Return to Top
#1955531 - 08/20/14 11:27 PM Re: Timing of Charging Mortgage Late Fees CLPetro
tflower Offline
100 Club
tflower
Joined: Nov 2004
Posts: 110
Beautiful California Coast
BUMP

Return to Top