Just to clarify... I ordered what I thought was "When Your Home is on the Line" booklet from Fed. I received "What you should know about Home equity lines of Credit". Is this the same booklet?
Yes. The "What you should know..." is the title of the lastest version of the Home Equity Booklet - but it is the only HELOC booklet that you are required to give.
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Jim Bedsole, CRCM, CBA, CFSA, CAFP My posts - my opinions
#154820 - 02/04/0403:41 PMRe: When your home is on the line booklet
Anonymous
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I went on the Federal Reserve's website and the title of the brochure that is posted on the site is: "When your home is on the line: what you should know about home equity lines of credit." If you click on the title to see the brochure, the last time that page was updated was July 2001. Is that the new brochure everyone is speaking about here? Or is there another one that is not on the website?
The Federal Reserve Board revised their booklet in 2003 when it was up for reprint. They basically just changed the title on it. I have contacted the FRB to find out why they do not have that version posted. They are checking into it. I ordered a copy of their latest one and the one I received was the 2003 version with the new title. At this point there should not be a problem using either version.
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