Coverage
Does TILA cover Personal Home Loans?
Yes
The Big Stein wants to purchase a private island, he chooses to go through JPMorgan with credit. Does TILA apply to the transaction between Stein and JPMorgan?
Yes, it involves a consumer credit transaction
Consumer credit Transactions
Quantavious Deshawn Trey Williams Smith jr. the 3rd was wanting to become a homeowner, Quantavious Deshawn Trey Williams Smith Jr. the 3rd applies for a home loan. Is this covered under TILA?
yes, its still considered Consumer credit
Is a Loan for farm equipment and or farming land covered under TILA
No
Chris griffins car broke down, And hes been stucuk with riding his bicycle to work. He decides to take out a line of credit. Does this transaction fall under TILA?
Yes
What is a borrowers three day right to cancel certain home loans called
the right of recession
Meg Griffin wants to Take out a Loan to start up a business based around selling golden Bracelets. does the TILA act apply to her?
NO! it is not a consumer credit transaction
does TILA apply to a 200000 loan to purchase a home
Yes the home is collateral
Peter griffin Decides to get a reverse mortgage in order to finance his habit of buying comically oversized hats and assorted knickknacks, does TILA apply to his reverse mortgage?
NO!, unless its a closed end secured line of credit for consumer proposes it is not included under TILA