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J. Warren
J. Warren, Lawyer
Category: Real Estate Law
Satisfied Customers: 2211
Experience:  Experience in residential real estate and commercial leases.
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After you have already closed on a home equity line of

Customer Question

After you have already closed on a home equity line of credit and then at some point in the future either lose your job or your marital status changes are you obligated to notify your lender even if you can keep up with payments?
Submitted: 9 months ago.
Category: Real Estate Law
Expert:  J. Warren replied 9 months ago.

Hello and welcome to JustAnswer. Please note:This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

Unless there is very specific language in the loan documents to provide notice (which would be rare and not typical) a borrower does not have to notify or is obligated to tell a lender of a change in circumstances regarding a HELOC or equity loan. As long as payments are made, the lender really doesn't care, the lender just wants the money.

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Expert:  J. Warren replied 9 months ago.

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