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Defaulting on Mortgage question

BabyMonkeyy · 2013-10-04 04:55:54

Can someone please enlighten me on defaulting on a mortgage. If you default on a mortgage and say your paying 3% interest on it. If you default are you charged more interest on the mortgage as a penalty for not paying?

04-10-2013 4:55am

#1

BabyMonkeyy

Registered Users, Registered Users 2 Posts: 57 ✭✭

Join Date: April 2012

Posts: 43

Can someone please enlighten me on defaulting on a mortgage. If you default on a mortgage and say your paying 3% interest on it. If you default are you charged more interest on the mortgage as a penalty for not paying?

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Comments

#2 04-10-2013 10:27am

roro2

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Join Date: February 2012

Posts: 405

No. In their wisdom, the Central Bank did away with surcharge interest a few years ago.

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