Each lender making a shared appreciation loan shall additionally furnish to the prospective borrower, prior to consummation of the loan, a statement containing the following information:
IMPORTANT INFORMATION ABOUT YOUR SHARED APPRECIATION LOAN
You are being offered a shared appreciation loan. Before you decide to accept this loan, read this statement, which is designed to provide important information you should consider.
1. Prevailing interest rate: __%.
2. Interest rate on this loan: __%.
3. Lender’s share of net appreciated value: __%.
4. Amount of this loan: $__.
5. Amount of the monthly payments: $__.
6. Term of this loan: __ years.
7. Amortization period on which payments are calculated: __ years.
8. Prepayment charge (if any): __.
(Repealed and added by Stats. 1982, Ch. 466, Sec. 12. Inoperative January 1, 1987, by Stats. 1982, Ch. 466, Sec. 12.5.)
Last modified: October 25, 2018