Usury with a modified note?

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Posted by SolidReturns on April 28, 2010 at 22:18:49:

If I buy a non-performing note with a 15% face interest rate, and reduce the interest rate to 12%, is that still considered usury? (For this example we will say this is taking place in California where usury is anything above 10% unless a broker is involved.)

I know I am off the hook for the original face rate of 15% because I didn't originate it, but will that 12% be considered an "origination."?

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