[WSBAPT] GARN ST-GERMAIN & HELOC

[Erin Fairley]

Hi Everyone,

Due on Sale Clause.  I understand that under Garn-St Germain, home can be transferred to family member without loan being called.  This particular home has a Home Equity Loan and client is concerned that the HELOC would be called.  From my reading this morning, it also looks like Garn-St Germain would also prevent a bank from exercising Due on Sale clause in this situation.

Has anyone dealt with a home transfer with HELOC who can confirm that Garn protects the heir?

Thank you!


Erin Fairley / Attorney
erin at leschilaw.com<mailto:erin at leschilaw.com> / (206) 353-4625
Leschi Law, PLLC
121 Lakeside Avenue, Suite B Seattle, WA 98122
www.leschilaw.com<http://www.leschilaw.com/>

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