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The newest Jurbala loan consisted of what exactly is titled an interest set-aside, which that have loan costs and you can settlement costs amounted to $2.34 million of your total. The use of “interest supplies” is a very common practice in the construction fund as well as one to prone in order to abuse. Whenever a financial makes a destination set aside loan to help you a creator, it give the new creator the prominent plus the desire on the the borrowed funds.
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