Accrued Interest
This is a discussion on Accrued Interest within the Mortgages, Refinancing, Foreclosure forum, part of the Buying & Selling Property category; I just started the process to re-finance our property, received word to day that we have nearly $7,000 in interest ...
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Apr 15th, 2009, 01:51 PM
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Accrued Interest
I just started the process to re-finance our property, received word to day that we have nearly $7,000 in interest due required to be paid for release of the property. I receive a statement every month and have never seen a hint of such a large amount of unpaid interest on this debt. I was told by the new broker that this was kost likely because the original rate was so high (9%) and because the loan was still fairly new (1.5 years). Can they do that? Did'nt they have a responsibility to report that to me? I feel lost! Any ideas?
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