Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago,

User Stats

2
Posts
0
Votes
Drew Prawel
  • Nashville, TN
0
Votes |
2
Posts

Changing address on HELOC statement

Drew Prawel
  • Nashville, TN
Posted

Hi BP community - first time investor/participant here, so I'm not sure this post is in the right place, but here goes:

I got a HELOC on my previous primary residence which is now my investment property to use as a down payment on my current primary residence. I received the line of credit last November (6 months ago) and have paid down about 12% so far - I'd like to change where the statement is sent each month (my investment property is only 3 miles away, but I'd rather not depend on my tenant holding the statement for me each month) but I'm concerned that the bank will give me a hard time (or worse, ask me to pay down the rest of the line) for moving when the HELOC was intended to be used on the previous property, not as a down payment for a new house. Any advice on whether I should keep collecting the statement from my tenant or if I should be good informing the lender that I've moved? Thank you!

Loading replies...