"The last two and half years have cost Western over $2 million in penalty interest and fees, over and above the $2.3 million in original loan interest and roughly $1 million we have paid each year to reduce the principal. And the B of A wants millions of dollars more, over and above the original interest and principal, in another forbearance.
That is the essence of this business dispute.
Western, which has made all scheduled payments to the bank, wants to pay back the loan at a fair rate of return, and the B of A wants the 9.5 percent and fees they’ve grown to enjoy. The bank also seeks terms that are sure to put us back into this same position.
That is why we are in court"................READ MORE
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