Bank freeze access to heloc loan?

[Jesse Spaur]

I was listening to a Rod Khleif podcast the other day and he said during the last recession the banks froze heloc loans. He also said to secure your Heloc loan if the market does drop by putting it into a different bank. I am planing on getting $100k heloc on my personal residence very soon and would like some clarification on this. Do they only freeze the heloc if the home value drops below the 80% ltv? Or when and why do they freeze the heloc? Is he suggesting securing the heloc by transferring it as cash into another bank and making the monthly payments required until you find and purchase a deal with the money? Just curious on other people’s thoughts on this?