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Does our lender provide yearly interest statements to clients for the interest carried on its loans?

April 26, 2017clients Lender Loans statements

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Does our lender provide yearly interest statements to clients for the interest carried on its loans?

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No, our lender does not provide yearly interest statements to clients for interest carried on its loans. Since the interest expended on behalf of the client is added to the job costs of the property, it is part of the capitalized cost of the rehab property.