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Updated over 6 years ago,

User Stats

85
Posts
29
Votes
Seth Rouch
Pro Member
  • Specialist
  • Denver, CO
29
Votes |
85
Posts

Can a bank/credit union etc revoke a Heloc if market turns?

Seth Rouch
Pro Member
  • Specialist
  • Denver, CO
Posted
Hi all, I’m curious to know if: I have a HELOC, for easy numbers let’s say $100k, then the market turns/tanks. That equity is no longer real essentially. Would/coukd the HELOC be “revised” or “revoked” if I’ve not used/pulled any funds out? Could the amount be changed if I have pulled nothing out? Secondly: I don’t believe this to be the case but wanted to check- Would/could the note balance be called due in a tanking economy? (Assuming no foreclosure happened)
  • Seth Rouch
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