There are additional disclosure requirements for a high-cost mortgage loan.

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The Truth in Lending Act requires additional disclosures for high-cost mortgage loans, including a notice stating that the borrower may not be able to afford the payments based on their current income and expenses, and a list of counseling agencies that can provide assistance. These requirements are intended to protect consumers from entering into loans they cannot afford.

There Are Additional Disclosure Requirements for a High-Cost Mortgage Loan