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growing_older · 02-14-2008, 10:00 PM

Thanks for the great info. Several people mentioned that the "most likely" reason for my bank to freeze a HELOC would be if the house value dropped and the credit line put me near or over the reduced house value. I don't think I have to worry about that as house value is way above HELOC limits, but I am worried about other scenarios, such as bank is generally tightening these kinds of agreements, emergency includes loss of job and bank uses that as reason to freeze account, other reasons besides creditworthyness that might shut off credit line just when it's needed. Any sense of how real any of these dangers are? Scare stories in financial press about credit tightening have got me concerned, but I'm having difficulty determining if any of it applies to my situation or not.

02-14-2008, 10:00 PM	#21
growing_older Full time employment: Posting here. Join Date: Jun 2007 Posts: 603	Thanks for the great info. Several people mentioned that the "most likely" reason for my bank to freeze a HELOC would be if the house value dropped and the credit line put me near or over the reduced house value. I don't think I have to worry about that as house value is way above HELOC limits, but I am worried about other scenarios, such as bank is generally tightening these kinds of agreements, emergency includes loss of job and bank uses that as reason to freeze account, other reasons besides creditworthyness that might shut off credit line just when it's needed. Any sense of how real any of these dangers are? Scare stories in financial press about credit tightening have got me concerned, but I'm having difficulty determining if any of it applies to my situation or not.