Posted by aj/ca on 6/15/05 12:06am
Msg #44738

TIL in Heloc

Are there tils in Heloc pkgs?

Reply by AngelinaAZ on 6/15/05 1:08am
Msg #44751

Most of the ones I get have a Home Equity Line of Credit Disclosure instead of a standard TIL.

Reply by aj/ca on 6/15/05 2:59am
Msg #44758

Thanks, Angelina.. Now I see the instructions say the TIL is contained in the credit agreement. I had to fax back this and 14 other pgs to ss. Should have asked for more $. I'll know next time.

Reply by PAW_Fl on 6/15/05 6:48am
Msg #44760

Depends on what type of HELOC it is. If it is open-ended, then there will be no "TIL" per se as the information is contained in the disclosure. However, if it is close-ended, there should be a TIL.

Reply by AngelinaAZ on 6/15/05 7:59am
Msg #44776

Thanks PAW. I always just made sure there was one or the other... I never knew why the difference. I love knowing why!

Reply by aj/ca on 6/15/05 7:14pm
Msg #44948

Thanks,Paw!