We are doing a modification of an existing line of credit (HELOC) and converting it to a HELOAN. There is no new money. We will be doing a modification to the exis mortgage with a new note (same loan number).

There is, however, 2 additional pieces of collateral (not the borrower's primary residence) that we are taking as AOC mortgages.

Do we have to give right of rescission because of the two additional pieces of collateral?

If you are not advancing additional money, this is a refinance and not subject to the right of rescission, but it would be a new credit transaction subject to all new disclosures.

Perfect....and we did all new disclosures, so I think we're good.

Thanks!