Posted By: Jayda's Mom
When your home is on the line booklet - 01/29/04 08:07 PM
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?
Posted By: RVFlyboy
Re: When your home is on the line booklet - 01/29/04 08:24 PM
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.
Posted By: Jayda's Mom
Re: When your home is on the line booklet - 01/29/04 08:27 PM
Thanks so much. Thats what I thought but the lenders said I was wrong! Ha that'll show them!
Posted By: Anonymous
Re: When your home is on the line booklet - 01/30/04 01:58 PM
Can we still use when your home is on the line or must we change to new booklet?
Posted By: Anonymous
Re: When your home is on the line booklet - 02/03/04 12:27 AM
Quote:
Can we still use when your home is on the line or must we change to new booklet?
Posted By: HeidiL
Re: When your home is on the line booklet - 02/03/04 07:17 PM
I contacted our contact at the Federal Reserve Board and was told that it is fine to use up existing stock of the old version.
Posted By: Anonymous
Re: When your home is on the line booklet - 02/04/04 03:41 PM
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?
Posted By: HeidiL
Re: When your home is on the line booklet - 02/05/04 05:27 PM
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.