What to Do About a Suspended HELOC?

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Tip 1 - What to Do About a Suspended HELOC? | eHow

Published: 9 years, 5 month(s) ago | Submitted by ENSCACHAN Sky | permalink

A suspended HELOC or home equity line of credit occurs when a lender prevents you from drawing against your line of credit. This can occur for a number of reasons. Regulation Z allows creditors to freeze or suspend HELOC accounts under certain conditions including: the value of the home decreases to a level below the credit limit or changes to the...

For further reading: http://www.ehow.com/way_5872341_do-suspended-heloc_.html ^[1]

Tip 2 - Why cant I get any more money from my HELOC?

Published: 9 years, 5 month(s) ago | Submitted by Thomas Fiedler | permalink

Many lenders reserve the right to reduce the amount you can borrow from your HELOC or to suspend your ability to borrow any more money from it if:The value of your home goes down significantlyThe lender reasonably believes you may no longer be able to make your payments based on a material change in your financial circumstancesYou default on a material provision of your agreement (for example, by moving out of the hous

For further reading: http://www.consumerfinance.gov/askcfpb/251/why-cant-i-get-any-more-money-from-my-heloc.html ^[2]