Utah Statutes
§ 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.
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Utah § 61-2d-104 (Negative amortization prohibited.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Enacted by Chapter 252, 2004 General Session
Nearby Sections
15
§ 61-1-1
Fraud unlawful.§ 61-1-10
Registration by qualification.§ 61-1-101
Title.§ 61-1-102
Definitions.§ 61-1-103
Procedure for disclosure.§ 61-1-105
Remedies for employee bringing action.§ 61-1-106
Award for reporter.§ 61-1-13
Definitions.§ 61-1-14
Exemptions.