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Utah Code § 61-2d-104

Negative amortization prohibited

Enacted by Chapter 252, 2004 General Session

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.

Official source: Utah State Legislature. Reproduced from public-domain Utah statutes; confirm against the official source for the current text. Not legal advice.