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Code · Illinois · Chapter 815 — BUSINESS TRANSACTIONS · Act 137

Sec. 85. Payment compounding.

46 words·~1 min read·/il/chapter-815/act-137/85

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Sec. 85. Payment compounding. No lender shall transfer, deal in, offer, or make a high risk home loan that includes terms under which more than 2 periodic payments required under the loan are consolidated and paid in advance from the loan proceeds provided to the borrower.
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