Home Ownership Equity Protection Act

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When I Take Out a Loan, What Information Must the Creditor Provide?

At least 3 business days before a loan is finalized, there are certain disclosures a creditor is required under federal law to make:

What Types of Loans Does the HOEPA Apply to?

The following types of loans are covered under the Act:

What Is My Creditor Prohibited from Doing under the HOEPA?

There are number of practices that a creditor is prohibited from engaging in under the HOEPA:

What Should I Do if I Think My Creditor Has Violated the HOEPA?

You will probably want to contact an attorney who has experience in dealing with lender discrimination and redlining. You may be able to sue your creditor and recover statutory and actual damages, as well as have the loan rescinded for up to three years. Your attorney will be able to advise you of your rights as a borrower and help you plan a proper course of action.

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Last Modified: 08-09-2012 02:07 PM PDT

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