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#157718 - 02/06/04 05:58 PM HOEPA and Home Equity Loans
Anonymous
Unregistered

Is HOEPA applicable to Home Equity Lines of Credit? If you tie it to float and Prime goes up do I need to watch this?

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General Discussion
#157719 - 02/06/04 06:07 PM Re: HOEPA and Home Equity Loans
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
No. Look at 226.32(a)(2).
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#157720 - 02/06/04 07:13 PM Re: HOEPA and Home Equity Loans
Anonymous
Unregistered

THANKS!

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#157721 - 02/09/04 08:34 PM Re: HOEPA and Home Equity Loans
Lucy Griffin Offline

Diamond Poster
Lucy Griffin
Joined: Nov 2000
Posts: 1,544
HELOCS are considered to be sufficiently protected by the extensive HELOC disclosures. Thus, they are not included in the HOEPA rules.

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