Home Equity Line of Credit Booklet (HELOC) (6392BFN)
Product Description
Published by the Federal Reserve, this 2008 revised booklet is an easy-to-read tool for consumers to learn more about home equity loans. A new section on "What if the lender freezes or reduces your line of credit?" is included. Topics covered: What is a home equity loan; what you should look for when shopping for a home equity line of credit; how will you repay your home equity plan; lines of credit versus traditional second mortgage loans; glossary of common terms; where to go for help; home equity plan checklist.
Revision: 0114 (available 3-15-14)
(1) The revised publication adds a reference to the requirement that lenders must provide borrowers with a list of housing counselors in their area, CFPB contact information, and updates to other Federal agency contact information.
(2) It also adds CFPB resources for consumers including information about how consumers can submit a complaint to the Bureau, a link to the Bureau's online "Ask CFPB" tool to find answers to questions about mortgages and other financial topics, and a link to an online tool to find local HUD-approved housing counseling agencies.
Details"
3 7/8" x 8 1/2"
Revision: 0114 (available 3-15-14)
(1) The revised publication adds a reference to the requirement that lenders must provide borrowers with a list of housing counselors in their area, CFPB contact information, and updates to other Federal agency contact information.
(2) It also adds CFPB resources for consumers including information about how consumers can submit a complaint to the Bureau, a link to the Bureau's online "Ask CFPB" tool to find answers to questions about mortgages and other financial topics, and a link to an online tool to find local HUD-approved housing counseling agencies.
Details"
3 7/8" x 8 1/2"
