Challenging Reduction Of Home Equity Lines Of Credit

Law360, New York (March 23, 2010, 2:52 PM EDT) -- In the last few months, borrowers have filed a number of lawsuits throughout the country challenging the reduction of the limits on their Home Equity Lines of Credit, or “HELOCs.”

Typically, borrowers assert causes of action for violation of the federal Truth in Lending Act, as well as state law claims for breach of contract, unjust enrichment and violation of the forum state’s unfair practices act. Many of these borrowers seek to bring their claims on behalf of a national class of similarly situated borrowers.[1]...
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