Fees

This section explains how the foreclosure fees work

Foreclosure Fees

The foreclosure fee is charged when a loan is foreclosed by Concrete.

This fee is a percentage of the foreclosed amount and it replaces the liquidation penalty fee charged by the lending protocol.

According to experiments run by the simulations engine, this fee is around 1.5-2% of the foreclosed amount.

This fee is always deducted from the borrower's collateral after the loan is foreclosed.