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Post by valueinvestor123 on Feb 6, 2015 11:54:02 GMT
If you put up a loan for sale, do you still get interest/repayments on it or is it put on hold or accruing or something else?
Sorry couldn't find the info.
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jonno
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Post by jonno on Feb 6, 2015 12:10:46 GMT
If you put up a loan for sale, do you still get interest/repayments on it or is it put on hold or accruing or something else? Sorry couldn't find the info. I'm new to REBS, but my understanding is that interest for the WHOLE month is paid to whoever is holding the loan on the repayment date. I've bought loan parts one day before the repayment date and received all of the monthly repayment.
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baldpate
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Post by baldpate on Feb 6, 2015 14:06:31 GMT
If you list a loan part for sale you continue to receive interst on it until it is sold. The post above is also correct, the person holding the loan on the payment date gets the whole months interest. Sorry, viperstipes, but could I just clarify. I assume that, by "If you list a loan part for sale you continue to receive interst on it until it is sold." you mean you will continue to receive 'whole month' interest payments as they fall due even though your loan is up for sale. So, supposing you hold a loan whose payments fall due on the 15th of every month : you put a part up for sale on October 1st and it is finally bought on 14th December -then you will receive the full months interest payment due on 15th October and 15th November, but none of the interest due on 15th December.
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Post by GSV3MIaC on Feb 6, 2015 14:06:25 GMT
Probably neater to say 'the loan part continues to receive interest' .. whether you get it, or the new owner, depends on who is holding the parcel when the timer goes off, IIRC.
oops crossed in the post with Baldpate, who basically said the same thing. Every time interest is paid (typically monthly) whoever owns the part at that time (per ReBS' records) gets the interest .. whether the part is for sale doesn't matter as long as it hasn't changed hands yet.
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