Answer:
by Randy Carey: 37(l)(3) Total interest percentage.
1. General. When calculating the total interest percentage, the creditor assumes that the consumer will make each payment in full and on time and will not make any additional payments. The creditor includes prepaid interest that the consumer will pay when calculating the total interest percentage. Prepaid interest that is disclosed as a negative number under ยงยง 1026.37(g)(2) or 1026.38(g)(2) is included as a negative value when calculating the total interest percentage.
Answer:
by Dan Persfull: Is prepaid interest included in the calculation for Total of Payments
Yes unless it was paid by someone other than the borrower.
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