SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1996
Purpose: To supplement in part Part IV, Item 14(c) of Company's
previously filed Form 10-K in order to file as an exhibit
the Annual Servicing Report of Company's Independent
Public Accountants.
Commission File Nos. 0-20909
REVOLVING HOME EQUITY LOAN TRUST 1996-1
(Exact name of Registrant as specified in Department
of the Treasury, Internal Revenue Service Form SS-4)
HOUSEHOLD FINANCE CORPORATION
(Servicer of the Trust)
(Exact name as specified in Servicer's charter)
DELAWARE Not Applicable
(State or other jurisdiction of (I.R.S. Employer Identification
incorporation of Servicer) Number of Registrant
2700 SANDERS ROAD, PROSPECT HEIGHTS, ILLINOIS 60070
(Address of principal executive offices of (Zip Code)
Servicer)
Servicer's telephone number, including area code (847) 564-5000
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Servicer has duly caused this
amendment to be signed on behalf of the Revolving Home Equity Loan
Trust 1996-1 by the undersigned, thereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Servicer of and on behalf of the
REVOLVING HOME EQUITY LOAN TRUST 1996-1
(Registrant)
Date: April 29, 1997 By:/s/John W. Blenke
John W. Blenke
Assistant Secretary
U:\WP\HFS088\95-10K\RHEL96-1.AMD
<PAGE>
Exhibit Index
Exhibit No. Exhibit Page No.
99 Copy of Independent Public Accountants 4
Annual Servicing Report dated January 23,
1997.
Report of Independent Public Accountants
To Household Finance Corporation:
We have audited, in accordance with generally
accepted auditing standards, the consolidated
financial statements of Household Finance
Corporation (the "Company") and subsidiaries as of
December 31, 1996 and have issued our report
thereon dated January 23, 1997. We have not
audited any financial statements of the Company as
of any date or for any period subsequent to
December 31, 1996, or performed any audit
procedures subsequent to the date of our report on
those statements.
In connection with our audit, nothing came to our
attention that caused us to believe that the
Company was not in compliance with any of the
terms, covenants, provisions, or conditions of the
Pooling and Servicing Agreement (the "Agreement"),
dated May 1, 1996, in conjunction with the
Revolving Home Equity Loan Asset Backed
Certificates Series 1996-1 insofar as they relate
to accounting matters. It should be noted,
however, that our audit was not directed primarily
toward obtaining knowledge of such noncompliance.
As a part of our audit, we made a study and
evaluation of the Company's system of internal
accounting controls over the Company's home equity
loan portfolio, including those loans serviced
under the Agreement to the extent we considered
necessary to evaluate the system as required by
generally accepted auditing standards. In
accordance with these standards, the purpose of
our study and evaluation, which included obtaining
an understanding of the accounting systems, was to
determine the nature, timing and extent of the
auditing procedures necessary for expressing an
opinion on the financial statements. Our study
and evaluation also took into consideration
certain of the criteria and audit requirements in
the Audit Guide for Audits of Non-Supervised
Mortgages Approved by the Department of Housing
and Urban Development. However, certain
procedures included in the audit guide are not
applicable to the home equity loans being serviced
for the Trustee, and therefore, were not
performed.
Our audit disclosed no exceptions or errors in
records relating to home equity loans serviced for
the Trustee that, in our opinion, Section 3.10 of
the Agreement required us to report.
This report is intended solely for the information
and use of the Board of Directors and management
of the Company and should not be used for any
other purpose.
Chicago, Illinois
January 23, 1997
