Can Extension Fee be added to the loan?

Posted By: Rdy2Retire

Can Extension Fee be added to the loan? - 08/27/12 01:39 PM

Is there any NC state law that prohibits adding a fee to the note for extending a monthly payment? Our offices have routinely asked the borrower to pay it in cash and just trying to figure out if a state law prohibits us from adding it to the note. Thank you!
Posted By: elcinoca

Re: Can Extension Fee be added to the loan? - 08/28/12 07:51 PM

Not that I am aware of.

MarkB
Posted By: Rdy2Retire

Re: Can Extension Fee be added to the loan? - 08/28/12 07:59 PM

Thank you!