Utah Code § 61-2d-104

Current through the 2024 Fourth Special Session

Section 61-2d-104 - Negative amortization prohibited

A high cost mortgage shall provide for regular, periodic payments sufficient to pay:

(1) all accrued interest and a portion of principal on the scheduled due date for each payment; and

(2) the full amount owed during the term of the loan, if no late fees or other contingent charges are incurred.

Utah Code § 61-2d-104

Enacted by Chapter 252, 2004 General Session .