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Securities Division - Real Estate Division | |
Utah High Cost Home Loan Act | |
Section 104 | Negative amortization prohibited. |
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61-2d-104. Negative amortization prohibited. A high cost mortgage shall provide for regular, periodic payments sufficient to pay: (1) all accrued interest and a portion of principal on the scheduled due date for each payment; and (2) the full amount owed during the term of the loan, if no late fees or other contingent charges are incurred.
Enacted by Chapter 252, 2004 General Session |
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