Finance
Washington's Home Equity Loan Consumer Protection Act provides borrowers with additional protections for:
APurchase money mortgages only
BHome equity loans and second mortgages, including rescission rights and disclosure requirements✓ Correct
CCommercial real estate loans
DBridge loans for investment properties
Explanation
The federal Home Equity Loan Consumer Protection Act provides borrowers with specific disclosures, three-day rescission rights, and other consumer protections for home equity loans and HELOCs secured by the borrower's principal dwelling.
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