This is not legal advice for your situation*

20-Year Repayment Option for Generic HELOCs

DocMagic has added a 20-year repayment period to all of its Generic Home Equity Lines of Credit (HELOCs) plan codes. Now the following draw periods -- 5, 10, or 15 years may be used in conjunction with either a 0, 5, 10, 15 or 20 year repayment period. Use plan codes HELOC1 through HELOC8. For more detailed information, click here. Also, click here for an explanation of the DocMagic HELOC audits.

If you have any questions regarding this update, please contact DocMagic's Compliance Department.

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*This article is distributed to provide general information about the subject matter covered and should not be utilized as a substitute for professional advice in specific situations. If you require such advice, please consult with your own professional advisers.


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