Posted By: Sugarbaker
Fees on HELOCS - 03/13/12 04:01 PM
Can fees be financed in a HELOC tranaction? I can't find where this is covered in regulation.
Posted By: Dan Persfull
Re: Fees on HELOCS - 03/13/12 04:19 PM
Yes. However there are special disclosure rules for those fees that are finance charges on the first periodic statement. Be sure you review Amount of Finance Charge and Other Charges in 1026.7 and its Commentary.