Line Secured by a Beach House

Answered by:

Question:

Do the Regulation Z rules for Home Equity Lines of Credit apply to lines of credit secured by a consumer’s beach house?

Answer:

The rules is Section 1026.40 apply to open-end plans secured by the consumer’s dwelling. It is not limited to just those loans secured by the principal dwelling. So, yes, a open-end line secured by a consumer’s beach house must meet all of the Regulation Z requirements for HELOCS.

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