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#2170102 - 03/26/18 05:38 PM North Carolina 1st HELOC late fee
workerbee Offline
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Joined: Oct 2015
Posts: 61
Can someone point me to the accurate late fee amount that a lender can charge on a 1st lien HELOC in North Carolina? I am getting arguments that the max is $10 since it is open end but also have been told that helocs can charge 4% after 15 days?

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#2170110 - 03/26/18 06:04 PM Re: North Carolina 1st HELOC late fee workerbee
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,637
Galveston, TX
My notes point to G.S. 24-1.1.

G.S. 24-10.1. Late fees.: refers to a loan or extension of credit governed by the provisions of G.S. 24-1.1, 24-1.2, or 24-1.1A, which excludes open-end credit.
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#2170113 - 03/26/18 06:09 PM Re: North Carolina 1st HELOC late fee workerbee
workerbee Offline
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Joined: Oct 2015
Posts: 61
What about 24.12.a?

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#2170121 - 03/26/18 06:26 PM Re: North Carolina 1st HELOC late fee workerbee
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,637
Galveston, TX
Not according to my notes, but I am not located in N.C.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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