Thread Options
#397077 - 08/04/05 08:43 PM Home Equity Monthly Payment Example
bgehres Offline
100 Club
Joined: Mar 2005
Posts: 126
Our HELOCs have a 10 year interest only term and a ballon payment at maturity. In the Historical example on our disclosure do we need 15 years or 10 years, and if 15 years, do we calculate the payment based on the first 10 years or the most recent 10 years?

Return to Top
Lending Compliance
#397078 - 08/05/05 06:45 AM Re: Home Equity Monthly Payment Example
homestar Offline
Diamond Poster
Joined: Feb 2001
Posts: 2,245
US of A
Did you check Section 226.5b of Regualtion Z and the Staff Commentary yet? If so, what do you think? If not, you should take a look see.

12 CFR 226.5b
"If you want to tell people the truth, make them laugh, otherwise they'll kill you." ~ Oscar Wilde

Return to Top

Moderator:  Andy_Z