HELOC and if I should keep it or close it out ??

[Michael Dunn]

Good Afternoon everyone ,

I need some advice on a HEOC please 

I currently have a HELOC , of which half of it has been used ( $10,000 )

I am going to be able to " Pay back " that $10,000 and thus have None of the HELOC used anymore

Since I will likely need this $20,000 at some point down the road to purchase another Investment property , should I keep the HELOC and leave it as it is or should I close it out ?If you close out a HELOC , do you get that money back from the Bank in the form of a Check ?

I was thinking of just going to cash instead of a HELOC and keeping the $ in my own personal Bank account

Any advice and recommendation are greatly appreciated

Thanks so much