Luật vay thế chấp liên bangCâu 37 / 400
Under Regulation Z, the Home Equity Line of Credit (HELOC) program disclosures and a brochure must generally be provided to the consumer:
a.Only at closing
b.Within 30 days of opening the line
c.At the time an application is provided to the consumer
d.Never; HELOCs are exempt from disclosure
Giải thích
For HELOCs, Regulation Z requires that the early disclosures and the 'What You Should Know About Home Equity Lines of Credit' brochure be provided at the time the application is given to the consumer. Providing them only at closing or within 30 days after opening is too late, and HELOCs are not exempt from disclosure requirements. Early disclosure allows informed shopping.
Trích dẫn luật: TILA / Regulation ZLuyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
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