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A home equity line of credit (HELOC) is a special type of loan that is highly regulated. Every aspect of a HELOC has special rules. There are certain disclosures that must be included in the loan documents, distinct wording for advertisements, special limitations on when lenders may decrease or suspend a HELOC, and special timing requirements for disclosures sent prior to maturity. In addition, Regulation Z prohibits lenders from changing any term of a HELOC, except in very limited circumstances.
This webinar will explain the required HELOC disclosures and advertising restrictions. It will explore specific situations when lenders are permitted to decrease, suspend, or terminate a HELOC, and how to do so. You’ll also learn how to handle HELOCs nearing their end-of-draw periods.
For more information or to register CLICK HERE