Mandated DisclosuresTilaMEDIUM
The Truth in Lending Act (TILA) requires disclosure of:
Correct Answer
B) Annual percentage rate (APR) and total cost of credit
TILA requires lenders to disclose the annual percentage rate (APR), finance charges, payment schedule, and total cost of credit so borrowers can compare loan terms from different lenders.
Answer Options
A
Property defectsB
Annual percentage rate (APR) and total cost of creditC
Seller's mortgage balanceD
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