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Illinois Statutes Chapter 815. Business Transactions § 137/35.5. No balloon payments

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 35.5. No balloon payments. No high risk home loan may contain a scheduled payment that is more than twice as large as the average of earlier scheduled payments. This Section does not apply when the payment schedule is adjusted to the seasonal or irregular income of the consumer.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 815. Business Transactions § 137/35.5. No balloon payments - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-815-business-transactions/il-st-sect-815-137-35-5/

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