6.2-1182 - (Effective October 1, 2010) Adjustable real estate loans. - Virginia Statutes

§ 6.2-1182. (Effective October 1, 2010) Adjustable real estate loans.

A state savings institution may adjust the interest rate, payment, balance,or term to maturity on any real estate loan as authorized by the loancontract, and may receive a portion of the consideration for making a realestate loan in the form of a percentage of the amount by which the currentmarket value of the property, during the loan term or at maturity, exceedsthe original appraised value.

(1985, c. 425, § , § 6.1-194.65; 1991, c. 230, § , § 6.1-194.151; 2010, c.794.)