As used in this chapter, "extension of credit" means the right to:

1. (1) defer payment of debt offered or granted primarily for personal, family, or household purposes;
2. (2) incur debt and defer payment of the debt offered or granted primarily for personal, family, or household purposes; or
3. (3) delay or avoid foreclosure on a buyer's residence.

As added by P.L.142-1990, SEC.1. Amended by P.L.171-2006, SEC.2.