Indiana Code 23-2.5-1-34. “Residential mortgage loan”
Current as of: 2023 | Check for updates
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Sec. 34. “Residential mortgage loan” means a loan:
(2) that is secured by a mortgage (or another equivalent consensual security interest) on:
(1) that is or will be used primarily for personal, family, or household purposes; and
Terms Used In Indiana Code 23-2.5-1-34
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
(A) a dwelling (as defined in Section 103(w) of the federal Truth in Lending Act (15 U.S.C. § 1602(w)); or
(B) residential real estate.
As added by P.L.175-2019, SEC.2.