The Home Equity Loan Consumer Protection Act

The Home Equity Loan Consumer Protection Act:

A) forbids the creditor from accelerating the outstanding balance of the loan if the consumer fails to make payments on time.
B) defines a principal dwelling to include second or vacation homes.
C) amends the Truth-in-Lending Act to require that lenders provide a disclosure statement to potential borrowers at least five days before they receive an application for the loan.
D) only covers loans with adjustable rate mortgages.

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