Sec. 45. Refinancing prohibited in certain cases.
47 words·~1 min read·
/il/chapter-815/act-137/45A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 45. Refinancing prohibited in certain cases. No lender shall refinance any high risk home loan where such refinancing charges additional points and fees within a 12-month period after the original loan agreement was signed, unless the refinancing results in a tangible net benefit to the borrower.