Lending in California: Interest Calculation & Compounding and Recording Issues

Article Abstract:

California law requires recording of documents affecting title to or possession of real property and in respect of interest, this should be calculated on a 365-day year basis unless loan documents acknowledge the use of a 360-day year with date of accrual to be specified whether from date of the note or from date of the funding. Moreover, compounded interest should be clearly expressed in writing and signed by the borrower and comply with California's Usury Law.

Statistical Data Included, Records and correspondence, Interest, Interest (Finance), Legal documents

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Strategic Uses and Limitations of the Right of Setoff Under California Law

Article Abstract:

The right of setoff between parties mutually indebted to each other in California has restrictions. For example lenders can not take full advantage of this right against borrowers who are favored by a number of policy protections.

Mortgages, Real covenants

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Strategic uses and limitations of the right of setoff under California law

Article Abstract:

Mortgage lenders cannot use setoff in California with borrowers in many instances. Setoff can be used to prevent foreclosure.

California, Mortgage bankers and correspondents, Mortgage Bankers, Real Estate Credit, Interpretation and construction, Mortgage banks, Set-off and counterclaim, Counterclaims

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