J
jimmyp
Guest
hi.
im having problems meeting the terms of my 15y commerical loan(mortgage)
because my tenant is making irregular monthly payments .
i've been in discussions with the bank manager about increasing the term to reduce my monthly payments but they say 15y is the max (is this correct)
their solution is 1 year interest free and capital/interest for 14y
ive stressed to them that it would be irresponsible of me to commit to this as more than likely i will not be able to meet the higher capital/interest payment and i have to look at the worst case (no tenant)
any thoughts
im having problems meeting the terms of my 15y commerical loan(mortgage)
because my tenant is making irregular monthly payments .
i've been in discussions with the bank manager about increasing the term to reduce my monthly payments but they say 15y is the max (is this correct)
their solution is 1 year interest free and capital/interest for 14y
ive stressed to them that it would be irresponsible of me to commit to this as more than likely i will not be able to meet the higher capital/interest payment and i have to look at the worst case (no tenant)
any thoughts
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