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Is this a Trigger Term?
by Andy Zavoina, BOL Guru
Guru Bios

Question: Would the following phrase in an advertisement for home sales trigger Regulation Z disclosures? "100% financing for as low as $608 per month" ?

Answer: The downpayment trigger term applies only to a credit sale. That would be unusual for this, but is possible.

The mention of a monthly payment here is a trigger term. §226.24(c)(1)(iii)

First published on BankersOnline.com 1/2/06




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