Section 55.3. Contractual provisions

(a) Installment sales contracts executed on or after July 1, 1978 may be prepaid in full without a penalty or other charge at any time before the end of the period of the loan, and the buyer will be entitled to a refund of the unearned finance charge under section 22 of the act (69 P. S. § 622).

(b) No installment buyer under an installment sales contract executed on or after July 1, 1978 may be liable for nor may a holder of a contract receive attorneys fees which exceed those provided for under section 23G6 of the act (69 P. S. § 623G6).

(c) No oral or written waiver of any provision of the act shall be effective.

(d) A term or provision of an installment sales contract entered into on or after July 1, 1978 which term or provision is inconsistent with the provisions of the act or this chapter shall be invalid and unenforceable to the extent of the inconsistency.

Notation

Notes of Decisions

Although no prepayment penalty or charge may be imposed upon prepayment of a mobile home contract, the finance company may calculate the amount of unearned finance charge to be rebated by means of Rule 78’s. Pysh v. Security Pacific Housing Service, 610 A.2d 973 (Pa. Super. 1992).