Sec. 7. A creditor may not make a high cost home loan without first providing the borrower information to facilitate contact with a nonprofit counseling agency certified by:
(1) the United States Department of Housing and Urban Development; or
(2) the Indiana housing and community development authority under IC 5-20-1-4(d);
at the same time as the good faith estimates are provided to the borrower in accordance with the requirements of the federal Real Estate Settlement Procedures Act (12 U.S.C. 2601 et seq.) as amended.
As added by P.L.73-2004, SEC.33. Amended by P.L.1-2006, SEC.415; P.L.32-2021, SEC.66.
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