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Understanding Your TIL

Understanding Your TIL

The Truth in Lending Disclosure Statement also referred to as a TIL, is a disclosure to the Mortgagor (Borrower) from the Mortgagee (Lender) that outlines the terms and conditions of the note.  This TIL disclosure is one of the most important to understand because it addresses among other things, the type, rate, and terms of the loan.  Below is clarification behind some of these terms. Read the rest of this entry