Indiana Code 28-15-11-11. “Standard mortgage loan”
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Terms Used In Indiana Code 28-15-11-11
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Sec. 11. As used in this chapter, “standard mortgage loan” means a loan under which the principal and interest are paid in equal monthly installments for a period of not more than forty (40) years.
As added by P.L.193-1997, SEC.2.