Updated almost 8 years ago on . Most recent reply
Two HELOCs on one house?
Apparently I've done this (inadvertently). ~2 years ago I refinanced on my primary residence, and got a HELOC with TCF bank at that time (no balance on this account). Since then my primary has appreciated more, PenFed has a better HELOC, and I applied for one with PenFed. In the initial application, I asked what happened to my TCF HELOC, and was told I could transfer the balance over if there was one, and they would shut down the TCF HELOC in the process.
Today I closed on the PenFed HELOC and asked about the TCF one. I was told, "your credit was good enough, so now you have both. You'll have to contact TCF if you want to close". I'm going to call TCF after work to close the HELOC, but has anyone ever heard of two HELOCs on one house?