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#254043 - 10/07/04 09:50 PM allowable late fee on VA Mortgage
G-dawg Offline
New Poster
G-dawg
Joined: Nov 2003
Posts: 16

I've looked but not found the answers.
What is the maximum allowable late fee on a NY VA loan's Note? I am auditing a VA note that states 4% as the late fee, but doesn't NY state law supersede, making for a 2% late fee?

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#254044 - 10/08/04 07:07 PM Re: allowable late fee on VA Mortgage
Anonymous
Unregistered

We use the allowable 2%.

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#254045 - 10/08/04 07:09 PM Re: allowable late fee on VA Mortgage
Jim Offline
100 Club
Joined: May 2004
Posts: 127
New York State
I agree with you. We have always used the 2%.

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