Tag Archives: Rose

Market Report – Asian Shares Up

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Asian stocks rose to a 10-month high today, boosted by news of a refinancing plot for CIT and hopes of a recovery in corporate earnings in the months yet to be. Shares in South Korea and Australia led the way with exporters like Hyundai and LG the largest winners. Japan’s markets were shut for a public holiday, keeping trading volumes relatively low elsewhere in the region. HSBC has taken an vital step towards listing in the Chinese mainland stock market. A Hong Kong-based newspaper reports HSBC has picked between four and five investment banks as sponsors and underwriters. Its shares were up 2 percent in Hong Kong. China’s top banking valve warned of risks from the country’s surge in bank lending, singling out the dangers in the booming property market. The warning comes after June’s lending figures hit $224 billion, well beyond analysts’ expectations.

How Much Can a Bank Charge for Late Fees on a Mortgage Loan?

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I made a mortgage loan payment after the due date which the bank charged me a $50.00 late fee. That is cool. I expected it. They claimed I skipped a payment because I went past 30 days between payments. They wanted a double payment at which I couldn’t swing. The late fee rose up to $150.00 a month and now is up to $254.00 a month. My payment is $500.00 a month. I paid them $1000.00 in July to bring my payment up to date and to meet my monthly mortgage payment requirement for July. But, I did not pay the late fee in full. Many banks will tack on the fees to the end of the balance. My bank is not and is charging me $254.00 late fee on top of a late fee. Is this legal? Are there limits to what they can charge? One late fee has grown to $550.00 for the month which is more than my regular mortgage loan payment. This makes it impossible to catch up. I tried to work with my bank, but the right hand does not know what the left is doing. Any suggestions? This is maddening! Help!