HOEPA/High Cost Mortgage Requirements 2014 - Randy Carey
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HOEPA/High Cost Mortgage Requirements 2014
Answer by Randy Carey, BOL Guru
Guru Bios

Question:   Will the new HOEPA/High-Cost mortgage requirements due in 2014 prohibit interest-only payments for HELOCs?

Answer:   If the HELOC qualifies as a high cost mortgage, the HELOC is going to have to amortize, either in the draw or the repayment period.

First published on BankersOnline.com 6/3/13









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