§ 61-2d-104. Negative amortization prohibited.

Latest version.

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

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');