Explain the purpose of the Federal Truth in Lending Act.
What will be an ideal response?
The Federal Truth in Lending Act and Regulation Z were enacted to inform consumers of the exact costs incurred when obtaining a loan. Lenders must make full disclosure of all costs incurred in obtaining credit. Further, lenders are required to disclose to borrowers the annual percentage rate applied to the loan. The Federal Truth in Lending Act was revised in 1987 to require complete disclosures regarding ARMs. It was further revised in the Housing and Economic Recovery Act of 2008 and amended to include the Mortgage Disclosure Improvement Act (MDIA). This Act expands the coverage of disclosure requirements that were not originally covered, such as a home refinance loan, and mandates waiting periods between disclosures and closings. Violation of the act can result in both civil and criminal penalties.
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In California, an independent paralegal not working under the supervision of a lawyer?
A. ?can call him- or herself a paralegal. B. ?cannot call him- or herself a paralegal. C. ?must pay dues to use the title of paralegal. D. ?None of these choices is correct.
The doctrine that specific rights expressed in the Bill of Rights are included in the concept of due process under the Fourteenth Amendment and thereby made applicable to the states is known as the _____ doctrine
Fill in the blank(s) with correct word
___________ one person held responsible for another’s actions.
Fill in the blank(s) with the appropriate word(s).
A landlord’s covenant that the tenant will peacefully and quietly enjoy the premises without hindrance or interference by the landlord is known as a grace period.
Answer the following statement true (T) or false (F)