Indiana Code 32-29-6-5. “Payoff statement”
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Sec. 5. As used in this chapter, “payoff statement” means a statement of the amount of:
(2) interest on a per day basis for the unpaid balance.
(1) the unpaid balance of a loan secured by a mortgage, including principal, interest, and any other charges properly due under or secured by the mortgage; and
Terms Used In Indiana Code 32-29-6-5
- mortgage: means a mortgage or mortgage lien on an interest in real property in Indiana given to secure a loan in the original principal amount of not more than one million dollars ($1,000,000). See Indiana Code 32-29-6-1
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
[Pre-2002 Recodification Citation: 32-8-15.5-5.]
As added by P.L.2-2002, SEC.14.