Updated October 28, 2016. Exterior walls can be finished with a wide array of materials and techniques. Exterior wall finishes can produce significant savings for the contractor as well as for the building occupant and there are many options that will protect you from fire, heat, snow and that can save some money to you.
When Is Penalty Interest Payable? Penalty interest is payable when money is due, but is not paid by the due date. This means that late payment of deposit or late payment of the balance of the purchase price at settlement will usually give rise to an obligation to pay penalty interest.
DEFINITION of 'Interest Deduction'. A deduction for taxpayers who pay certain types of interest. Interest deductions reduce the amount of income subject to tax. The two main types of interest deductions are for home mortgage and home equity loan interest, and margin account interest. These deductions are allowed primarily to encourage home ownership and investment activity. Other interest deductions can come from the interest paid on student loans.