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In reference to the regulation below (credit sale), when the bank is selling property that the bank owns (OREO) and doing the financing of the sale, how will this be listed on the new LE and CD or will it be listed?
1026.18 (j) Total sale price. In a credit sale, the total sale price, using that term, and a descriptive explanation (including the amount of any downpayment) such as “the total price of your purchase on credit, including your downpayment of $__.” The total sale price is the sum of the cash price, the items described in paragraph (b)(2), and the finance charge disclosed under paragraph (d) of this section.
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