Rate Change Notice

Posted By: Poohie

Rate Change Notice - 01/29/21 05:43 PM

After I reduce the interest rate to 6% and forgive the back interest and reduce the payment, etc., do I need to send a letter to servicemember informing of rate reduction change?
Posted By: Andy_Z

Re: Rate Change Notice - 02/05/21 10:39 PM

It is not required, but it is certainly advisable. How else does the borrower know the payment amount?
Posted By: Poohie

Re: Rate Change Notice - 02/08/21 08:16 PM

Thank you.