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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report December 20, 1999
HOUSEHOLD HOME EQUITY LOAN TRUST 1999-1
(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 333-84611 Applied For
(State or other juris- (Commission File Number (IRS Employer
diction of incorporation of Registrant) Identification
of Master Servicer) Number of
Registrant)
2700 Sanders Road, Prospect Heights, Illinois 60070
(Address of principal executive offices of (Zip Code)
Master Servicer)
Servicer's telephone number, including area code 847/564-5000
Exhibit Index appears on page 3
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Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99(a) Monthly Servicing Report to Trustee dated
December 20, 1999 pursuant to Sections 4.01
and 5.02 of the Pooling and Servicing
Agreement dated as of November 1, 1999 (the
"Pooling and Servicing Agreement") among HFC
Revolving Corporation, as Seller, Household
Finance Corporation, as Servicer, and Bank
One, National Association, as Trustee, with
respect to Class A-1, Class A-2, Class A-3,
Class A-4, Class M-1 and Class M-2
Certificates.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Servicer has duly caused this report to be signed on
behalf of the Household Home Equity Loan Trust 1999-1 by the
undersigned hereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Servicer of and on behalf of the
HOUSEHOLD HOME EQUITY LOAN TRUST 1999-1
(Registrant)
By: /s/ J. W. Blenke
J. W. Blenke
Authorized Representative
Dated: December 28, 1999
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EXHIBIT INDEX
Exhibit
Number Exhibit Page
4
99(a) Monthly Servicing Report to Trustee dated December 20, 1999
pursuant to Sections 4.01 and 5.02 of the Pooling and
Servicing Agreement dated as of November 1, 1999 (the
"Pooling and Servicing Agreement") among HFC Revolving
Corporation, as Seller, Household Finance Corporation, as
Servicer, and Bank One, National Association, as Trustee,
with respect to the Class A-1, Class A-2, Class A-3, Class
A-4, Class M-1 and Class M-2 Certificates.
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<CAPTION>
Household Home Equity Loan Trust 1999-1
Distribution Number 1
Beginning Date of Accrual Period 11/01/1999
End Date of Accrual Period 11/30/1999
Distribution Date 12/20/1999
Previous Distribution Date n/a
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Funds Disbursement
Available Funds for Distribution 16,502,139.97
Principal Collections 11,671,818.18
Interest Collections 4,830,321.79
Distribution of Interest
Collections
Servicing Fee 219,472.15
Extra Principal Distribution 1,628,916.22
Amount
Interest Paid 2,981,933.42
To Class R
-
Distribution of Principal
Collections
Principal Paid to 13,300,734.40
Certificates
Overcollateralization Release
Amount -
Balance Reconciliation
Begin Principal Balance 526,733,171.22
Adjustments 0.00
Principal Collections (including (11,671,818.18)
repurchases)
Charge off Amount
-
End Principal Balance 515,061,353.04
Collateral Performance
Cash Yield (% of beginning balance) 10.96%
Charge off Amount (% of beginning 0.00%
balance)
Net Yield 10.96%
Delinquent Loans (contractual)
30-59 days number of loans 12,127,061.05
30-59 days principal balance of loan 179
60-89 days number of loan 0.00
60-89 days principal balance of loan 0
90+ days number of loans
-
90+ days principal balance of loan
-
Number of Loans that went into REO 0
Principal Balance of Loans that went into 0.00
REO
Principal Balance of all REO 0.00
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Overcollateralization Reconcilliation
Begin OC Amount 26,343,171.22
Target OC Amount 50,039,651.27
OC Deficiency 23,696,480.05
OC Release Amount
-
End OC Amount 27,972,087.44
Loan Repurchase Detail
Number Purchased for pursuant to 2.02
Principal Balance Purchasesed pursant to
2.02
Other
Stepdown No
Trigger Event No
Event of Default No
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<TABLE>
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Class A-1 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 61.81290886
2. Principal Distribution per $1,000 56.12124219
3. Interest Distribution per $1,000 5.69166667
B. Calculation of Class A-1 Interest Due &
Paid
1. Class A-1 related Note Rate 6.83%
2. Accrual Convention 30/360
3. Class A-1 Principal Balance, BOP 237,000,000.00
4. Class A-1 Interest Carryover
Shortfall, BOP -
5. Class A-1 Interest Due 1,348,925.00
6. Class A-1 Interest Paid 1,348,925.00
7. Class A-1 unpaid Carryover
Shortfall, EOP -
C. Calculation of Class A-1 Principal Due &
Paid
1. Class A-1 Principal Balance, BOP 237,000,000.00
2. Class A-1 Principal Due
3. Class A-1 Principal Paid 13,300,734.40
4. Class A-1 Principal Balance, EOP 223,699,265.60
5. Class A-1 Notes Balance as a % of 0.459257227
the Total Certificate Balance, EOP
6. Class A-1 Notes Balance as a 0.434315765
percentage of the Pool Balance, EOP
</TABLE>
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<TABLE>
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Class A-2 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 5.79166667
2. Principal Distribution per $1,000
-
3. Interest Distribution per $1,000 5.79166667
B. Calculation of Class A-2 Interest Due & Paid
1. Class A-2 related Note Rate 6.95%
2. Accrual Convention 30/360
3. Class A-2 Principal Balance, BOP 62,000,000.00
4. Class A-2 Interest Carryover
Shortfall, BOP -
5. Class A-2 Interest Due 359,083.33
6. Class A-2 Interest Paid 359,083.33
7. Class A-2 unpaid Carryover
Shortfall, EOP -
C. Calculation of Class A-2 Principal Due &
Paid
1. Class A-2 Principal Balance, BOP 62,000,000.00
2. Class A-2 Principal Due
3. Class A-2 Principal Paid
-
4. Class A-2 Principal Balance, EOP 62,000,000.00
5. Class A-2 Notes Balance as a 0.127286730
percentage of the Total Certificate Balance
6. Class A-2 Notes Balance as a 0.120374009
percentage of the Pool Balance, EOP
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<TABLE>
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Class A-3 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 6.00833333
2. Principal Distribution per $1,000
-
3. Interest Distribution per $1,000 6.00833333
B. Calculation of Class A-3 Interest Due &
Paid
1. Class A-3 related Note Rate 7.21%
2. Accrual Convention 30/360
3. Class A-3 Principal Balance, BOP 90,000,000.00
4. Class A-3 Interest Carryover
Shortfall, BOP -
5. Class A-3 Interest Due 540,750.00
6. Class A-3 Interest Paid 540,750.00
7. Class A-3 unpaid Carryover
Shortfall, EOP -
C. Calculation of Class A-3 Principal Due &
Paid
1. Class A-3 Principal Balance, BOP 90,000,000.00
2. Class A-3 Principal Due
3. Class A-3 Principal Paid
-
4. Class A-3 Principal Balance, EOP 90,000,000.00
5. Class A-3 Notes Balance as a 0.184771060
percentage of the Total Certificate Balance
6. Class A-3 Notes Balance as a 0.174736465
percentage of the Pool Balance, EOP
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<TABLE>
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Class A-4 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 6.00833333
2. Principal Distribution per $1,000
-
3. Interest Distribution per $1,000 6.00833333
B. Calculation of Class A-4 Interest Due &
Paid
1. Class A-4 related Note Rate 7.21%
2. Accrual Convention 30/360
3. Class A-4 Principal Balance, BOP 42,920,000.00
4. Class A-4 Interest Carryover
Shortfall, BOP -
5. Class A-4 Interest Due 257,877.67
6. Class A-4 Interest Paid 257,877.67
7. Class A-4 unpaid Carryover
Shortfall, EOP -
C. Calculation of Class A-4 Principal Due &
Paid
1. Class A-4 Principal Balance, BOP 42,920,000.00
2. Class A-4 Principal Due
3. Class A-4 Principal Paid
-
4. Class A-4 Principal Balance, EOP 42,920,000.00
5. Class A-4 Notes Balance as a 0.088115266
percentage of the Total Certificate Balance
6. Class A-4 Notes Balance as a 0.083329879
percentage of the Pool Balance, EOP
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<TABLE>
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Class M-1 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 6.52500000
2. Principal Distribution per $1,000
-
3. Interest Distribution per $1,000 6.52500000
B. Calculation of Class M-1 Interest Due &
Paid
1. Class M-1 related Note Rate 7.83%
2. Accrual Convention 30/360
3. Class M-1 Principal Balance, BOP 35,550,000.00
4. Class M-1 Interest Carryover
Shortfall, BOP -
5. Class M-1 Interest Due 231,963.75
6. Class M-1 Interest Paid 231,963.75
7. Class M-1 unpaid Carryover
Shortfall, EOP -
C. Calculation of Class M-1 Principal Due &
Paid
1. Class M-1 Principal Balance, BOP 35,550,000.00
2. Class M-1 Principal Due
3. Class M-1 Principal Paid
-
4. Class M-1 Principal Balance, EOP 35,550,000.00
5. Class M-1 Notes Balance as a 0.072984569
percentage of the Total Certificate Balance
6. Class M-1 Notes Balance as a 0.069020904
percentage of the Pool Balance, EOP
</TABLE>
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<TABLE>
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Class M-2 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 7.39166667
2. Principal Distribution per $1,000
-
3. Interest Distribution per $1,000 7.39166667
B. Calculation of Class M-2 Interest Due &
Paid
1. Class M-2 related Note Rate 8.87%
2. Accrual Convention 30/360
3. Class M-2 Principal Balance, BOP 32,920,000.00
4. Class M-2 Interest Carryover
Shortfall, BOP -
5. Class M-2 Interest Due 243,333.67
6. Class M-2 Interest Paid 243,333.67
7. Class M-2 unpaid Carryover
Shortfall, EOP -
C. Calculation of Class M-2 Principal Due &
Paid
1. Class M-2 Principal Balance, BOP 32,920,000.00
2. Class M-2 Principal Due
3. Class M-2 Principal Paid
-
4. Class M-2 Principal Balance, EOP 32,920,000.00
5. Class M-2 Notes Balance as a 0.067585148
percentage of the Total Certificate Balance
6. Class M-2 Notes Balance as a 0.063914716
percentage of the Pool Balance, EOP
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