Home Ownership and Equity Protection Act (HOEPA)

Definition

Consumer protection legislation designed to shield homeowners from abusive loan practices. It modified the Truth in Lending Act by establishing certain disclosure requirements and prohibiting home equity stripping. Its primary purpose was to stop unethical practices associated with high cost mortgages.

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The home ownership and equity protection act was really cool and I thought that everything was okay and we all needed stuff to work on.

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You should familiarize yourself with the HOME OWNERSHIP AND EQUITY PROTECTION ACT and see if there is a way to use it to your advantage.

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The Home Ownership and Equity Protection Act allotted that homeowners had some safeguards against any predatory practices that might be leveled at them.

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