Real property liens: equity lines of credit: suspend and close.

Existing law requires a creditor to make certain disclosures to a consumer applying for a home equity loan, as defined. Under existing law, upon receipt of a specified written request from a borrower, the lender must suspend the borrower's equity line of credit for a minimum of 30 days. Upon receipt of both that request and a specified payment, existing law requires a lender to close the borrower's equity line of credit and release or reconvey the property secured by the line of credit, as specified. Existing law provides for the repeal of these equity line of credit suspension and closure provisions on July 1, 2019. This bill would extend the operation of those provisions indefinitely.