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#2169113 - 03/20/18 01:18 PM loan renewal-payment date
mdog76 Offline
Platinum Poster
Joined: Jan 2007
Posts: 645
On a loan renewal, is a 30 day "gap" required before the first payment?

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Lending Compliance
#2169115 - 03/20/18 01:22 PM Re: loan renewal-payment date mdog76
Dan Persfull Online
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,016
Bloomington, IN
Not under Federal regulations.
The opinions expressed are mine and they are not to be taken as legal advice.

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#2169116 - 03/20/18 01:26 PM Re: loan renewal-payment date mdog76
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,097
Toano, VA
Check with the bank's legal counsel--but I've never heard of a state law that dealt with anything like this. If there are third-party stakeholders (investor, insurer, guarantor, etc.), you also need to review their standards.
...gone fishing.

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