Sec. 2. A creditor may not knowingly or intentionally:
(1) refinance a high cost home loan by charging points and fees on the part of the proceeds of the new high cost home loan that is used to refinance the existing high cost loan within four (4) years of the origination of the existing high cost home loan; or
(2) divide a home loan transaction into multiple transactions with the effect of evading this article. Where multiple transactions are involved, the total points and fees charged in all transactions shall be considered when determining whether the protections of this section apply.
As added by P.L.73-2004, SEC.33.
Structure Indiana Code
Article 9. Home Loan Practices
Chapter 4. Additional Prohibitions for High Cost Home Loans
24-9-4-0.1. Chapter Not Applicable to Loans Made Before January 1, 2005
24-9-4-1. Limitations and Prohibited Practices
24-9-4-4. Payment Terms; Collection of Interest Due
24-9-4-5. Acceleration After Default
24-9-4-6. Consolidated Periodic Payments Paid From Loan Proceeds
24-9-4-7. Counseling Agency Contact Information
24-9-4-8. Repayment Ability; Commercially Reasonable Practices to Determine Debt to Income Ratio
24-9-4-9. Payments to Home Improvement Contractors
24-9-4-12. High Cost Home Loan Agreements; Unconscionable and Void Provisions