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Updated over 3 years ago on . Most recent reply

User Stats

335
Posts
57
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Ryan Keenan
  • bethel, ct
57
Votes |
335
Posts

What happens to heloc if move and rent out?

Ryan Keenan
  • bethel, ct
Posted

Hi BP,

Trying to find the answer to my Heloc question and seems like I cant get a clear answer.  If I have a Heloc on my primary residence  but decide I do not want to live in a 3 family the rest of my life and move renting out my unit, what will happen to my Heloc? Will the bank find out its not my primary anymore and close down the Heloc? I did ask my banker and she did not know the answer. Anyone have any experience with this?

Thanks!

Ryan

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