Unless it is secured by a mortgage on real estate, a loan must be in the amount of ________ in order to come within the scope of the Truth-in-Lending Act.

Name: Unless it is secured by a mortgage on real estate, a loan must be in the amount of ________ in order to come within the scope of the Truth-in-Lending Act.
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Question

Quizplus · Accepted Answer

The Truth-in-Lending Act applies to loans that are primarily for personal, family, or household purposes and are $25,000 or less, unless secured by real estate.

Unless It Is Secured by a Mortgage on Real Estate