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

Terms Used In Utah Code 61-2d-104

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(2)  the full amount owed during the term of the loan, if no late fees or other contingent charges are incurred.

Enacted by Chapter 252, 2004 General Session

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