FinancingMEDIUM
New Jersey's Anti-Predatory Lending Act protects borrowers by:
Correct Answer
B) Limiting fees, prepayment penalties, and requiring disclosures
The Anti-Predatory Lending Act limits fees, restricts prepayment penalties, and requires specific disclosures to protect borrowers.
Answer Options
A
Eliminating all closing costsB
Limiting fees, prepayment penalties, and requiring disclosuresC
Guaranteeing low interest ratesD
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Related Topics & Key Terms
Related Topics:
disclosure-requirements-in-real-estateconsumer-protection-lawsmortgage-lending-regulations
Key Terms:
Anti-Predatory Lending Acthigh-cost home loanprepayment penaltyfee capsN.J.S.A. 46:10B-22
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