California § 1917.713. 1917.713. (Added by Stats. 1984, Ch. 1701, Sec. 1.)

California Statutes

§ 1917.713. — 1917.713. (Added by Stats. 1984, Ch. 1701, Sec. 1.)

California·Code CIV Civil Code - CIV·Div. 3. DIVISION 3. OBLIGATIONS·Title 4.·Part 4. TITLE 4. LOAN·Ch. 7. CHAPTER 7. Shared Appreciation Loans for Seniors·Art. 6. ARTICLE 6. Notices and Disclosures

Each lender making a shared appreciation loan for seniors shall additionally furnish to the prospective borrower, prior to consummation of the loan, a statement containing the following information: IMPORTANT INFORMATION ABOUT YOUR SHARED APPRECIATION LOAN FOR SENIORS You are being offered a shared appreciation loan. Before you decide to accept this loan, read this statement, which is designed to provide important information you should consider.

1.Prevailing interest rate: __%.

2.Stated interest rate on this loan: __%.

3.Projected contingent interest: __%.

4.Initial amount of this loan: $__.

5.Amount of the monthly annuity payments you will receive: $__.

6.Projected term of this loan: __ years.

7.Projected total loan obligation you will have to pay, assuming the loan continues to t

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Each lender making a shared appreciation loan for seniors shall additionally furnish to the prospective borrower, prior to consummation of the loan, a statement containing the following information:
IMPORTANT INFORMATION ABOUT YOUR SHARED APPRECIATION LOAN FOR SENIORS
You are being offered a shared appreciation loan. Before you decide to accept this loan, read this statement, which is designed to provide important information you should consider.
1.
Prevailing interest rate: __%.
2.
Stated interest rate on this loan: __%.
3.
Projected contingent interest: __%.
4.
Initial amount of this loan: $__.
5.
Amount of the monthly annuity payments you will receive: $__.
6.
Projected term of this loan: __ years.
7.
Projected total loan obligation you will have to pay, assuming the loan continues to the end of the “borrower’s” life expectancy: $__.

California § 1917.713. (1917.713. (Added by Stats. 1984, Ch. 1701, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.