Skip to content
BOL Conferences
Thread Options
#2232206 - 03/03/20 05:52 PM down payment
banker-12 Offline
Diamond Poster
Joined: May 2007
Posts: 1,240
There are no triggering terms requirements if an ad includes only the required down payment on a closed-end home loan, correct? It's a general loan ad advertising the down payment - "10% down payment required".

Thanks,

Return to Top
Marketing
#2232207 - 03/03/20 05:56 PM Re: down payment banker-12
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
Down payment is only a trigger term in a credit sale transaction.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#2232212 - 03/03/20 06:20 PM Re: down payment banker-12
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,179
Toano, VA
...so this additional disclosure could only be a triggering term if your "closed-end home loans" were self-financed sales of homes from foreclosed mortgage loans.
Last edited by Richard Insley; 03/03/20 07:08 PM.
_________________________
...gone fishing.

Return to Top
#2232217 - 03/03/20 07:03 PM Re: down payment banker-12
banker-12 Offline
Diamond Poster
Joined: May 2007
Posts: 1,240
Thank you.

Return to Top

Moderator:  Andy_Z, MoneyMaker