District of Columbia Statutes
§ 26-1152.13 — Limitations on balloon payments.
District of Columbia § 26-1152.13
JurisdictionDistrict of Columbia
Title 26Banks and Other Financial Institutions.
Ch. 11AHome Loan Protection.
Subch. IIProhibited Practices.
This text of District of Columbia § 26-1152.13 (Limitations on balloon payments.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
D.C. Code § 26-1152.13 (2026).
Text
A lender shall not make a covered loan that provides for a scheduled payment that is more than twice as large as the average of earlier scheduled monthly payments unless the balloon payment becomes due and payable not less than 7 years after the date of the loan closing. This section shall not apply if the payment schedule is adjusted to account for the seasonal or irregular income of the borrower or if the loan is a bridge loan connected with or related to the acquisition or construction of a dwelling intended to become the borrower’s principal dwelling.
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Related
Onyeoziri v. Spivok
44 A.3d 279 (District of Columbia Court of Appeals, 2012)
Dawson v. Thomas (In Re Dawson)
411 B.R. 1 (District of Columbia, 2008)
Legislative History
May 7, 2002, D.C. Law 14-132, § 213, 49 DCR 2551
Nearby Sections
15
§ 26-1001
Definitions.§ 26-1002
License required.§ 26-1003
Exemptions.§ 26-1004
License qualifications.§ 26-1006
License application.§ 26-1007
Bond or other security device.§ 26-1008
Application fee.§ 26-1009
Issuance of license.§ 26-1011
Special reporting requirements.§ 26-1012
Changes in control of a licensee.§ 26-1013
Examinations.§ 26-1014
Maintenance of records.Cite This Page — Counsel Stack
Bluebook (online)
District of Columbia § 26-1152.13, Counsel Stack Legal Research, https://law.counselstack.com/statute/dc/26-1152.13.