When You Cannot Get Default Interest By Default

Law360, New York (October 2, 2012, 3:26 PM EDT) -- In connection with commercial and residential loans which have gone into default, whether as a result of a payment default, technical default or maturity, the imposition of default interest can quickly add up. These fees may render the borrower’s ability to cure the default impossible or, on the other hand, generate a handsome profit for the lender or loan servicer.

However, the recent decision in JCC Development Corp. v. Hyman Levy, 208 Cal. App. 4th 1522 (2012), in the Court of Appeal for the Second Appellate...
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