Usury-avoidance provision in a mortgage is useless.(Federal Home Loan Mortgage Corp.'s lawsuit against a limited partnership company)
Real Estate Weekly › September 15, 1999
Linked as:
Extract
Usury-avoidance provision in a mortgage is useless.(Federal Home Loan Mortgage Corp.'s lawsuit against a limited partnership company)
It is very common for mortgage documents to provide that if it is determined that the interest rate is usurious, that amount which exceeds the legal rate of interest will not be deemed interest, but will be considered to be a payment toward reducing the principal of the mortgage.
The Federal Home Loan Mortgag...See the full content of this document
Sponsored links
