I am under the impression it is against the law in the state of PA to charge a prepayment penalty/early termination fee on a home equity loan or home equity line of credit and a mortgage below the "base figure" amount. Actually, I was told this by an employee of the PA Department of Banking.
However, I see early termination fees in advertisements for home equity lines of credit at other Banks. What are other peoples thoughts on this matter? Did I get bad info from the DOB employee?