Many home equity line of credit borrowers don't know when their draw period ends, and many do not have plans in place to handle that transition, according to a study from TD Bank.

TD Bank reported that 27% of HELOC borrowers are unaware of their draw period end date, while 23% have not put a financial plan in place for when that time comes. But based on TD's data, many homeowners nationwide would be affected by a HELOC reset.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry