Eddie Eugene Hamilton, Jr., and Idella Hamilton v. Southern Discount Company

VANCE, Circuit Judge:

Appellants brought this action under the federal Truth-in-Lending Act (TILA), 15 U.S.C. § 1601, et seq., contending that ap-pellee Southern Discount Company had violated the Act by failing to disclose appellants’ waiver and assignment of their Georgia homestead exemption.

In Elzea v. National Bank of Georgia, 570 F.2d 1248 (5th Cir. 1978) we held that the assignment of a homestead exemption under the Georgia law was an assignment of a security interest and required disclosure under Regulation Z, 12 C.F.R. § 226.8(b)(5). The loan agreement in this case, however, was…