I have seen a couple of items lately about Fed's revision to the HELOC booklet. I have not been able, however, to find specific reference to an effective date, whether or not we can use up existing stock, etc. Does anyone have any of that information?

http://www.bankersonline.com/forum/ubbthreads.php?ubb=showflat&Number=1009840

Previous discussion.

FWIW, there are some changes to the booklet (I am looking at one now that I just rec'd from the FRB):

1) There is now a Table of Contents page right in the front.
2) There is a Home Equity Plan Checklist (to help the borrower gather information on two different plans and compare them)
3) There is now a section entitled "What if the lender freezes or reduces your line of credit." Here's the link to the electronic version to read what the booklet says about that:
http://www.federalreserve.gov/pubs/equity/equity_english.htm

Go to the following site to order copies (you get the 1st 100 for free):
http://www.newyorkfed.org/publications/r...ble=pitsubtopic

By the way....even though the date on the web link I provided above says 3/10/2003, when you order it, you will get the new version.

Hey - thanks - I was looking for that answer!