Wednesday, July 29, 2020 1:35:56 AM
Sometimes they put a clause in there that a borrower can pay off the loan early to prevent conversions. But in addition to interest, there are hefty penalties that increase the closer to the conversion date. The toxic lenders are cutthroat, they want their pound of flesh one way or another. They love converting, it is how they make their money. And the conversions make them far more than just to "cover interest".
Do your own research, use third-party sources, and don't buy into the hype.
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