I've seen this posted in a couple other threads and heard that it is state law dependent. Does anyone here know if the Balloon Payment Mortgage Disclosure is required in Illinois since the LE contains what the balloon payment will be? I tried searching the ILGA code but couldn't find anything relating to non-high risk mortgage loans (which do require the disclosure and refers to rate above APOR).
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"Pressure is something you feel when you don't know what you're doing" - Peyton Manning