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#2251378 - 03/29/21 04:01 PM Indiana Balloon Loan Notification Requirements
Newbie06 Offline
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Joined: Mar 2006
Posts: 663
It's my understanding that Regulation Z does not require notices to be provided to customers who have a balloon loan maturing. It's probably good customer service but not required. Does anyone know if Indiana has a requirement of sending notices prior to maturity of a balloon loan?

Our Promissory Note does not state any notice requirements but simply states the customer will have to pay in full the balloon payment at maturity (refinance with same lender or with different lender/payoff out of pocket).

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#2251384 - 03/29/21 04:17 PM Re: Indiana Balloon Loan Notification Requirements Newbie06
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 80,333
Galveston, TX
Not that I can find.
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#2251386 - 03/29/21 05:00 PM Re: Indiana Balloon Loan Notification Requirements rlcarey
Newbie06 Offline
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Joined: Mar 2006
Posts: 663
rclarey, that's what I thought too.

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#2251488 - 03/30/21 04:54 PM Re: Indiana Balloon Loan Notification Requirements Newbie06
Dan Persfull Online
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Dan Persfull
Joined: Aug 2002
Posts: 47,016
Bloomington, IN
To the best of knowledge there are no state specific notification requirements.
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The opinions expressed are mine and they are not to be taken as legal advice.

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