Mortgage Payment Command and Info

[Serena]

The des command to make a mortgage payment is: !mortgage pay "Plot Name" , done in channel.

There is no need for an actual REB clerk to be present. Conduct an IC interaction with an NPC clerk at the REB office.

Q. What happens if I miss a months payment?
A. A 50 mhl fee will be added per unpaid month. After the third month of no payment the land will be repossessed and held for 30 days, at which time the -full- balance of defaulted monthly payments, w/fees, must be paid before the property is returned to the purchaser (i.e. Jan- 60, Feb- 60, Mar- 60, total 180. Late fees total - 100. Balance that must be paid - 180+100 = 280).

Q. When does the month run from/to?
A. The month for the mortgage starts the day that you put down the deposit and are sold the land, the first payment must happen before the same day the following month, and so on for each extra payment.
Example. You take a mortgage out on the 12th of January. Your first payment is required by 12th February, Your second payment is required by 12th March.

Q. Will you remind me if I miss a month's payment?
A. No. It is your responsibility to remember what and when your payments are due. We are more than happy to remind you icly of when your date is.. if you ask us, but we will not remind you when you have missed a payment.

Q. What happens if I default on the mortgage entirely for any reason? (this includes RL reasons)
A. After 3 months of no payments after last payment due and after the 30 day hold time of the land, the plot will be repossessed entirely, cleared, and set for sell. The deposit paid by the customer (as per clerk work logs) and the amount of payments made by the customer, as per des statements generated by the REB management, will be paid back to the customer, whether the customer is present or not. This will help keep mortgages from running severely overdue if the player isn't currently present within the game, and will assist in alleviating any worries held by the player who may not be able to tend to their character's land.