Skip to content

Refinancing a HELOC

Answered by: 

Question: 
We have a HELOC with the borrower's personal residence securing the loan. Since we can not renew a HELOC that has reached maturity, we are in the process of refinancing for another term. Can we modify the existing deed to extend the maturity or is it necessary to record a brand new deed?
Answer: 

The recording of security interests is a state law issue, and this is a question for your legal counsel.

First published on BankersOnline.com 8/02/10

First published on 08/02/2010

Filed under: 
Filed under lending as: 
Filed under security as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics