{"data":{"id":"us-wv/w.-va.-code-47-24-5","jurisdiction":"us-wv","citation":"W. Va. Code § 47-24-5","heading":"Inapplicability of related statutes and law.","body":"Reverse mortgage loans may be made or acquired without regard to the following statutory provisions or relevant interpretation of law:\n(a) Limitations on the purpose and use of future advances or any other mortgage proceeds;\n(b) Limitations on future advances to a term of years, or limitations on the term of credit line advances;\n(c) Limitations on the term during which future advances take priority over intervening advances;\n(d) Requirements that a maximum mortgage amount be stated in the mortgage;\n(e) Limitations on loan-to-value ratios;\n(f) Prohibitions on balloon payments;\n(g) Prohibitions on compounded interest and interest on interest;\n(h) Interest rate limits under the usury statutes;\n(i) Requirements that a percentage of the loan proceeds must be advanced prior to loan assignment; and\n(j) Limitations on ongoing administrative and servicing fees.","path":["CHAPTER 47. REGULATION OF TRADE.","ARTICLE 24. THE REVERSE MORTGAGE ENABLING ACT."],"source_url":"https://code.wvlegislature.gov/47-24-5/","current_through":"as of 2026-08-03; contains at least the enactments of the 2026 Regular Session","vintage":"","retrieved_at":"2026-09-06T00:30:16Z","sha256":"fbf258e5ef85ed9dcebcc212e462d8b457e351b43db2b23d6614f51e126058cd","source_id":"us-wv","stale":true,"prev":"us-wv/w.-va.-code-47-24-4","next":"us-wv/w.-va.-code-47-24-6"},"notice":"GroundRules: Original legal text. Not legal advice."}