interest rate of mortgage property to relative
1 interest rate of mortgage property to relative on Tue Jul 16, 2013 3:20 am
2 Re: interest rate of mortgage property to relative on Sun Jul 21, 2013 3:47 pm
If not paying any interest, then it will be interest on the missed paid interest too (And it's common with some punish fee too, if interest isn't paid as agreed.) Even without any punish fee 165 000 plus interest on not paid interest reach 1 million after around 15 years.
So sad to say 1 million can be corect.
(Interest rates are very high in general in the Philppines. In most "puti countries" it's common with interest rates even as low as 3 % per year, when real estate are security.)
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