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State ROR for HELOC is Open-End Loan? (Appendix G)

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Question: 
Does a Right of Rescission for a HELOC have to state that the loan is an open-end loan? All the rescission forms in Appendix G include reference to an open-end loan.
Answer: 

Without using the model notices for a Right of Rescission, you risk losing the safe harbor and would be subject to lawsuits.

First published on 08/19/2018

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