Sec. 5. A high cost home loan may not contain a provision that increases the interest rate after default. However, this section does not apply to interest rate changes in a variable rate loan otherwise consistent with the provisions of the high cost home loan documents if the change in the interest rate is not triggered by the event of default or the acceleration of the indebtedness.
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