Posts Tagged ‘fixed mortgage’

what are current rates on late fees and interest on commercial mortgages?

I sold my building to someone 4 years ago. I gave him a 30 fixed mortgage at 7% interest with a 5% late fee and 5% interest on late payments. He now wants to refinance. But he was late on every payment during the 4 years. Sometimes 2, 3, up to 8 months late on his payments. I have no problems refinancing with him at 5.25%. But i wanted to know if [...]