(5) (A) No lender may take out a mortgage in charges which, directly or indirectly, covers each credit insurance at the individual premium within the meaning of section 56-7-904 , a credit accident, disability, credit unemployment, home loan or health insurance, other credit insurance products or direct or indirect payments for the cancellation or signing of a debt contract, unless the total benefits payable under all policies or contracts issued in relation to the loan do not above $50,000 ($50,000) are the main premiums for the policy or contract during the life of the policy or refundable contract, and the amount payable under the life insurance credit does not exceed 103% during the term of the loan (103%) the balance of the principal of the loan, then unpre amortized. (B) No person may change in the context of a paid home loan after the execution of the document, including, but without limitation, any change or modification, a loan agreement, a mortgage, a fiduciary deed, a credit application, a declaration of settlement or any other loan or closing document, unless the amendment takes place with the consent of the person or persons affected by the change and consents the is in writing. , or the amendment is approved by a valid proxy that approved the amendment. A power of attorney is valid for this purpose if it specifically includes the nature or nature of the amendment; and (13) No lender may take out a paid home loan with conditions under which more than two (2) periodic payments required under the loan are consolidated and paid in advance on the proceeds of the loan made available to the borrower; (20) (A) No lender may encourage or ask a person, in the context of a high-priced home loan, to execute loan agreements, mortgages, loans, loans, loans, loans, loans or closing documents for a high-rate home loan, when the essential terms of the loan or transaction , including duration, interest rate or fees, are omitted or incomplete; (14) No lender may take out a home loan in fees with a provision that increases the interest rate in the event of a late payment. This subdivision (14) does not apply to changes in interest rates in a variable rate loan, which are otherwise consistent with the provisions of the loan file; provided that changes in interest rates are not caused by default or debt acceleration; (6) A lender may not take out a high-rate home loan unless the lender reasonably estimates, at the time of the loan settlement, that one or more of the borrowers, if considered individually or collectively, will be able to make payments for the repayment of the commitment, based on the consideration of their current and expected income. , current commitments, employment status and other financial means. , with another share of the borrower in the unit ensuring repayment of the loan; 3. No lender or service provider collects a fee for the pre-release of a high-priced home loan, with the exception of the actual cost of registering the release; YOU SHOULD GET A QUALIFIED INDEPENDENT CREDIT ADVISOR OR OTHER EXPERIENCED FINANCIAL ADVISORS ON THE ADVICE, FEES AND COMMISSIONS OF THIS MORTGAGE LOAN BEFORE YOUR PROCEED. U.S.
DIVISION OF HOUSING AND URBAN DEVELOPMENT (HUD) MAINTAINS A LIST OF CREDIT COUNSELORS IN YOUR AREA. YOU CAN GET HUD`S CREDIT COUNSELORS LIST FROM HUD CONTACTS DIRECTLY OR BY CONTACTING THE TENNESSEE DIVISION OF FINANCIAL INSTITUTIONS. (B) loan documents or refinancing of a high-risk home loan do not provide for advance fees or penalties or are not charged to a borrower if the lender`s lender or subsidiary is the holder of the refinanced note; and (15) No lender may take out a paid home loan with late fees, except as follows: (11) No lender may take out a high-priced home loan with a payment plan with periodic periodic payments that contribute to the increase in principal