A brokerage wants to advertise a specific interest rate in a newspaper. What does Chapter 494 require the advertisement to say?
Correct Answer
B) That the rate could change and might not be available at the commitment or the closing
Section 494.00165(1)(b) forbids advertising a mortgage loan at an expressed interest rate unless the advertisement specifically states that the rate could change or may not be available at commitment or closing. Source: Fla. Stat. § 494.00165(1)(b)
Why This Is the Correct Answer
Section 494.00165(1)(b) forbids advertising a mortgage loan at an expressed interest rate unless the advertisement specifically states that the rate could change or may not be available at commitment or closing. Source: Fla. Stat. § 494.00165(1)(b)
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