Two HELOC questions - Dan Persfull

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Two HELOC questions
by Dan Persfull, BOL Guru
Guru BIOS

Question:

Can banks reduce or freeze a Home Equity Line of Credit's credit limit upon borrower's written request.
After maturity date of a Home Equity Line of Credit can a Change In Terms be backdated to the maturity and therefore no disclosures or rights of rescission need to be given?

Yes.
No.

First published on BankersOnline.com 6/20/05

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