TeachMeFinance.com - explain slow loan
slow loan -- a loan for which payments have fallen behind schedule. Such delinquent loans must be reported to federal regulators. Office of Thrift Supervision regulations spell out what constitutes a slow loan in terms of the loan's age and how long it has been delinquent. Loans less than one year old are slow when 60 days delinquent; those between one and seven years old are slow when 90 days delinquent, etc.
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