CA AB1770

Requires lenders to suspend equity lines of credit for a minimum of 30 days upon receipt of a signed "Borrower's Instruction to Suspend and Close Equity Line of Credit" from an entitled person (such as an escrow agent).

Mandates that lenders close the equity line of credit and release or reconvey the secured property when they receive both the borrower's written instruction and payment according to the payoff demand statement.

Requires lenders to include an email address, fax number, or mailing address on payoff demand statements for delivery of the suspension and closure instruction.

Defines "equity line of credit" as a revolving line of credit for consumer purposes secured by a mortgage or deed of trust on residential property of one to four dwelling units, with at least one occupied by the borrower.

Operative from July 1, 2015 through July 1, 2019, at which point the section is repealed.