Mississippi Administrative Code
Title 25 - Military and Veterans - Veterans' Home Purchase Board
Part 202 - Loan Policies
Chapter 12 - Late Charge Assessment Policy
Rule 25-202-12.1 - Authorization
Universal Citation: MS Code of Rules 25-202-12.1
Current through September 24, 2024
The Deed of Trust/Note signed by the veteran allows for a late charge of 4 percent of the principal and interest payment not to exceed $50.00 to be assessed if a regular monthly payment is received more than 15 days from the due date. Since all loan payments are due on the first of the month, the 17 th day of each month is the late charge assessment date.
Miss. Code Ann. § 35-7-7
Disclaimer: These regulations may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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