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#213253 - 07/20/04 04:30 PM Timing of First Initial Payment Due
Anonymous
Unregistered

On closed end credit, is it possible to have a Note and disbursement date of 7-1-04 with a first payment date of 8-1-04? If so what regs apply? I have been told the first payment must be no less that 30 and no more than 60.

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#213254 - 07/20/04 04:42 PM Re: Timing of First Initial Payment Due
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,765
Central City, NE
There are no federal regulatory issues here. Once in a while I'll hear of someone that mentions that the first payment couldn't be more than 45 days from the closing. I believe this and your info. is all someone's opinion, but not backed by anything.

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