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In the state of Kentucky, is there a law that specifies whether or not the home that you are using as collateral has to be your primary residence?
Thank you
I am not aware of a Kentucky law that requires a home equity line of credit (HELOC) to be secured by the consumer’s principal dwelling. However, if a HELOC is secured by a consumer’s principal dwelling various federal laws, such as Truth in Lending, impose additional requirements such as the right to rescind.
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