AB 1770 (Dababneh)
Real property liens: equity lines of credit: suspend and close.
Would, on and after July 1, 2015, and until July 1, 2019, require a lender, upon receipt of a specified written request from a borrower and a specified payment, to close a borrower's equity line of credit, as defined, and to release or reconvey the property secured by the equity line of credit, as specified. The bill would prescribe the contents of the written request.
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