Commission for closing cost or down payment

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Posted by tonyt on September 19, 2005 at 21:13:08:

Hi, I am newbie noteholder and REA. I want to use 100% of my commission to cover a new homebuyers closing cost or down payment. I don't understand taxes, interest and terms. Will I be tax by monthly payments I receive or the lump sum I lend? I want to charge 12% for 10 years, what are the USURY laws regarding this? I am in Hawaii. Your help is appreciated.---Tony

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