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What is the penalty of not repaying a loan? |
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See the terms of the loan in the paper that you signed. Whatever is specified there is what can happen to you.
Typically, a mortgage loan is secured by the property. Meaning the bank can take the property back if you dont pay. http://www.fhamortgageprograms.com
First answer by Redbeard. Last edit by 911loan. Contributor trust: 9 [recommend contributor]. Question popularity: 55 [recommend question]
Answers.com > Wiki Answers > Categories > Law and Legal Issues > Crime and Criminal Law > Capital Punishment > What is the penalty of not repaying a loan?
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Not repaying loan? Repaying loan after reposession? How can you get out of repaying loans? What are the consequences of not repaying a loan? You didn't see if you could be arrested for repaying your loan really late but the recovery people keep telling you that what should you do? Can you get arrested if you are really late on repaying the total amount of your loan?
