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Rescission

Answered by: 

Question: 
Does the Right to Rescind apply to a HELOC?
Answer: 

The right to rescind applies to certain transactions secured by the consumer’s principal dwelling. A HELOC is a line secured by a consumer’s dwelling, but is not limited to the principal dwelling. A HELOC secured by the consumer’s principal dwelling is subject to the right to rescind.

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Learn more about Jack Holzknecht’s Regulation Z Rules for Home Equity Lines of Credit webinar.

First published on 09/19/2021

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