The following are trigger terms: the amount or percentage of any down payment, the payment period, the monthly payment, and the amount of the finance charge.
In mortgage advertising, triggering terms influence consumer decisions by indicating specific financing details. The term 'Assumable Mortgage' does not provide specific conditions like the others do. Hence, it is not considered a triggering term compared to the others in the list.
Final answer: The only term that is not a 'trigger term' according to Regulation Z is the APR. Trigger terms in Regulation Z are those that could potentially cause misunderstanding about the cost of credit, including downpayment amount, number of payments or repayment period, and finance charge amount.
Finance charge amount: Mentioning the finance charge amount includes stating the dollar amount of the finance charge or any portion of it. However, disclosing the APR or stating there is no particular charge for credit (such as no closing costs) is not a triggering term.
Performance is not a valid trigger type in Automation Anywhere.
It is the presence of a specific word or phrase that would “trigger” the advertisement to include additional disclosures to the consumer. The specific triggering term and related requirements are governed by the Truth in Lending Act (for loan-related products) or the Truth in Savings Act (for deposit-related products).
An assumable mortgage allows a homebuyer to assume the current principal balance, interest rate, repayment period, and any other contractual terms of the seller's mortgage. Rather than going through the rigorous process of obtaining a home loan from a bank, a buyer can take over an existing mortgage.
A trigger point on a mortgage occurs when the balance owing on the mortgage is higher than the original mortgage amount. At this point, you must either increase your payment or pay down the over-extended balance with a prepayment.
The trigger terms are those required to be disclosed under section 1026.6(b)(3) and include the APR, transaction fees, annual fee and certain other charges. This applies to trigger terms stated in the positive ($50 annual fee) and in the negative (no annual fee).
Share. Definition: used in advertising, include the following – the amount or percentage of down payment, number of payments, period (term) of repayment, amount of any payment, and the amount of any finance charges. Pronunciation: \ˈtri-g(ə-)riŋ\
A trigger is a stimulus that elicits a reaction. In the context of mental illness, "trigger" is often used to mean something that brings on or worsens symptoms. This often happens to people with a history of trauma or who are recovering from mental illness, self-harm, addiction, and/or eating disorders.
For example, if you are purchasing a home for $200,000 and the seller has a $100,000 assumable mortgage, you will still have to obtain a mortgage for the balance or pay the difference in cash. Assumption clauses generally include a fee to transfer the mortgage from one borrower to another.
Typically, removing a name from a mortgage could require you to pay off the loan in full or refinance it with a new loan. But, there are alternatives where you can take over the loan without paying off it off or refinancing. These could include mortgage assumption, loan modification and bankruptcy.
The first step in assuming a mortgage after a divorce is reaching a legal agreement between both parties. This agreement must outline that one spouse will assume the mortgage and take full responsibility for future payments.
Trigger Financing means any securities, capital raising, loan, investment or other transaction, or series of related transactions, whether publicly offered or privately arranged, resulting in a debt and/or equity financing of the Company or any Subsidiary.
Final answer: The loan term that is NOT a trigger term under the Truth in Lending Act is the number of payments. Trigger terms usually include the monthly payment amount, annual interest rate, and annual percentage rate, which necessitate additional disclosures.
Principal, Interest, Taxes, and Insurance, known as PITI, are the four basic elements of a monthly mortgage payment. Private Mortgage Insurance (PMI) is a type of mortgage insurance that benefits your lender.
A trigger exception (also known as a "blocking trigger") is a kind of trigger that can be used to block another trigger's ability to fire under certain conditions. For example, if a tag has a trigger to fire on all pages and a trigger exception that is set to "Page URL equals thankyou.
A trigger is a person, place, thing, or situation that elicits an intense or unexpected emotional response or causes an individual to relive a past trauma. Any sensory stimulus can be a potential trigger. Triggers are unique from threats.