Sometimes, for various reasons, borrowers can be late paying their monthly interest.
If this happens, we may, at our discretion, pay interest to investors on behalf of the offending borrower. If payments are late by more than 180 days, easyMoney will categorise the loan as being in default.
We will work with the borrower to recover any missed payments and to obtain repayment of the loan. As a last resort we will repossess and sell the property as part of our recovery process.