 Quote:
Originally Posted by liveitup
Freezing equity lines is becoming common practice as the credit crunch worsens.I hated to do it,but I withdrew funds from one of my HELOC's and deposited it in a money market account.It's costing me about 2%(prime rate minus mm yield),but I don't have to worry about it being frozen and not having access to the funds.I'll check my fico score in a few weeks to see if it has an impact.
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Not only did they not freeze mine they offered to move it up to $180,000 from $60,000. I declined .
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