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Resurrected equity line comes back to haunt lender (access required)

Columbia attorney Kevin Hall said a BB&T's home-equity line of credit was like Jason from "Friday the 13th" in his hockey mask - "You think he's dead, but he comes back to life." Countrywide Home Loans, Inc., thought Sharon and James Umbarger's equity line had been extinguished when it was paid off in 2002 when the Umbargers refinanced their mortgage. But it wasn't. According to the S.C. Supreme Court's unpublished opinion in Countrywide Home Loans, Inc. v. Umbarger (Lawyers Weekly No. 10-007-0011, 4 pp.), the equity line required a written request in order to be closed, but no written request was tendered.

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