Prepayment penalty on ARM loans

Posted by Lori_qc (68.55.194.59) on April 10, 2003 at 23:09:30:

Please tell me why TITLE 4. LOAN,CHAPTER 7.5. MORTGAGE LOANS, California Civil Code Section 1918.5-1921, indicates prepayment penalties are not allow on ARM loans, but attorneys seem to think this won't apply July 1, 2003, when the Parity Act doesn't protect mortgage companies?

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