

2,231,519
That's a great question for a licensed mortgage broker.
I guess the Utah Real Estate School is back in session.
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Debe Maxwell, CRS
Charlotte, NC
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
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Anthony Acosta - ALLAT...
Atlanta, GA
1,279,055
Law
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Debe Maxwell, CRS
Charlotte, NC
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Ron and Alexandra Seigel
Carpinteria, CA
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
2,259,743
Dito , it’s the Law
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Debe Maxwell, CRS
Charlotte, NC
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Doug Dawes
Topsfield, MA
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Anthony Acosta - ALLAT...
Atlanta, GA
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Nina Hollander, Broker
Charlotte, NC
1,231,903
It's the law!
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Debe Maxwell, CRS
Charlotte, NC
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Doug Dawes
Topsfield, MA
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Anthony Acosta - ALLAT...
Atlanta, GA
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Nina Hollander, Broker
Charlotte, NC
1,113,943
If you're going to put one term in there you got to put them all.
Love, TILA Tequila!
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Debe Maxwell, CRS
Charlotte, NC
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Ron and Alexandra Seigel
Carpinteria, CA
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Candice A. Donofrio
Fort Mohave, AZ
1,713,581
I thought the law and the law won.
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Debe Maxwell, CRS
Charlotte, NC
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Ron and Alexandra Seigel
Carpinteria, CA
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Candice A. Donofrio
Fort Mohave, AZ
2,564,154
I've never been a banker... especially when I was an active Realtor. I didn't mix the two and you should not either Daniel Lloyd .
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Debe Maxwell, CRS
Charlotte, NC
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Doug Dawes
Topsfield, MA
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Anthony Acosta - ALLAT...
Atlanta, GA
5,393,257
It's the law.
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Ron and Alexandra Seigel
Carpinteria, CA
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Doug Dawes
Topsfield, MA
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Anthony Acosta - ALLAT...
Atlanta, GA
5,181,486
Because the Truth In Lending law says you must,
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
659,928
The short answer is "because it is the law, and compliance dictates the APR is shown on all advertisements that feature an interest rate".
The longer answer is that trigger terms are essentially verbiage that "baits the consumer" into thinking that they have found terms far superior than that of the norm. Whether the trigger is a teaser rate/payment (that will adjust in the future) and/or a payment that does not cover the full interest payment (hard to find nowadays) or simply covers the finance charge (not reducing principal aka "interest only") and/or has a shorter amortization period (thus higher payment), the overall goal of APR disclosures (and other disclosure forms and/or protocols) is CONSUMER PROTECTION.
Thanks for looping me in Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
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Daniel Lloyd
Holladay, UT
5,561,073
6,772,276
986,518
It seems to be unanimous; it is the law
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Debe Maxwell, CRS
Charlotte, NC
1,546,784
It's the law. Not one I need to worry about because I'm not a lender.
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Debe Maxwell, CRS
Charlotte, NC
560,036
It help save people from unscrupulous people who would lie to make money
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Debe Maxwell, CRS
Charlotte, NC
5,585,039
the most important answer is that it's the law.... that would be enough of answer for me.
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Debe Maxwell, CRS
Charlotte, NC
3,448,216
It has something to do with a legal requirement.
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Debe Maxwell, CRS
Charlotte, NC
1,480,501
It is important enough that Congres passed a law a long time ago nicknamed RESPA which requires that action.
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Debe Maxwell, CRS
Charlotte, NC
3,986,529
6,057,183
4,434,277
400,687
So you don't get dinged by your state's regulatory enforcement department! The APR is a good way for borrower's to compare the cost of a mortgage in an "apples to apples" way.
1,269,736
When I went to MBA school there were 13 different ways to calculate interest rate on my final exam. That APR has evolved to APY/APR for sometime. So you are studying old materials.
Are you about done with your exam?
1,642,539
5,774,106
8,241,903
5,563,012
It is the law. The politicians think it will help people compare, mos do not understand.