Utah Code 61-2d-104. Negative amortization prohibited
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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
Terms Used In Utah Code 61-2d-104
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(2) the full amount owed during the term of the loan, if no late fees or other contingent charges are incurred.