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Jeff and Allen,
Thanks so much for the replys. That does make sense. The one thing I
do not really understand is that as far as I can tell, when a buyer of
mine asks to have the prepay removed from the loan, the rest of the
terms of the loan don't change. So in Jeff's example, it would seem
that to remove the prepay, the interest rate, or some other fee would
rise? I just haven't seen that happen, at least with the broker I do
90% of my business with.
Thanks!
John
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Re: When are prepayment penalties added to loan contracts?
