Questions regarding hard loan & Covid-19.
Hi, I recently bought a house with the hard loan. And my last payment got delayed for few days because of the lockdown. This company now has fined 25k. Since, it’s a private company they’re not even ready to understand our situation. Is there any possible way to request for penalty forgiveness?
Thank you.
Edit: I’m a new member and it’s my first post. So, if it’s in a wrong section pardon me and move it to the relevant section.
Most Popular Reply
Your promissory note should have what penalties they can charge you. Depending on your state they will only be able to charge a certain amount. Just because it is in your promissory note also does not necessarily mean it's legal. You may need to speak to a real estate attorney.