Each lender making a shared appreciation loan shall additionally furnish to the prospective borrower, prior to the consummation of the loan, a statement containing the following information: IMPORTANT INFORMATION ABOUT YOUR SHARED APPRECIATION LOAN You are being offered a shared appreciation loan. Before you decide to accept this loan read this statement, which is designed to provide important information that you should consider. 1. Prevailing interest rate: __%. 2. Fixed interest rate on this loan: __%. 3. Lenderâs share of net appreciated value: one-third. 4. Amount of this loan: $__. 5. Amount of the monthly payments: $__. 6. Term of this loan: __ years. 7. Amortization period on which payments are calculated: 30 years. 8. Prepayment penalty (if any) __.
‹ Prev All California sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.