What are you spending your HELOC on?

[Alan Davidson]

Ok BPers. Need some help. I'm taking a HELOC out on my primary residence to purchase a rental. During the application Chase asked if I would like an initial draw. If I took the initial draw I would get a lower interest rate. So I said yes. I would "remodel" my master bedroom and bath. 30k. I have no intention of remodeling anything. And will just return the money to Chase. However Chase is now asking me for more detailed plans on my remodel.

My question. Will I have to endure this type of questioning for everything I purchase with the HELOC? Or will Chase go away after the application and let me use the money as I want?