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ASK MIKE MONDAYS: “DEFAULT INTEREST- A lending phrase you must learn!”

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Manage episode 409942283 series 1181820
Content provided by Paul Peebles and Michael Becker. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Paul Peebles and Michael Becker or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.

When a property fails, and the borrower stops making payments…that’s a problem for the lender and the borrower. What you may not know- is that when you stop making mortgage payments- this will cause the lender to accelerate your interest cost. Yikes!! In your loan documents there is specific language that aids the lender by increasing your current interest rate to over 20%.... Yes…it’s a huge jump that goes from BAD to WORST immediately. Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory. If you enjoyed this discussion; Please leave us a 5-STAR RATING on iTunes.

  continue reading

524 episoade

Artwork
iconDistribuie
 
Manage episode 409942283 series 1181820
Content provided by Paul Peebles and Michael Becker. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Paul Peebles and Michael Becker or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.

When a property fails, and the borrower stops making payments…that’s a problem for the lender and the borrower. What you may not know- is that when you stop making mortgage payments- this will cause the lender to accelerate your interest cost. Yikes!! In your loan documents there is specific language that aids the lender by increasing your current interest rate to over 20%.... Yes…it’s a huge jump that goes from BAD to WORST immediately. Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory. If you enjoyed this discussion; Please leave us a 5-STAR RATING on iTunes.

  continue reading

524 episoade

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