If the financing program it allows people to convert its adjustable-rates financing so you’re able to repaired-price fund, the latest collector must disclose the interest rate may increase in the event the an individual turns the borrowed funds so you can a predetermined-rates mortgage

1. Price and you may fee caps. Brand new creditor need certainly to reveal restrictions with the change (increases otherwise minimizes) on the rate of interest or percentage. In the event that a primary dismiss is not considered when you look at the implementing overall or occasional rate limits, you to fact have to be unveiled. [Read more…]