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Updated almost 5 years ago on . Most recent reply

Renee Lee's profile image
Renee Lee's profile image
Renee Lee
  • Member since Oct 17, 2019
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Renee Lee's profile image
Renee Lee's profile image
Renee Lee
  • Member since Oct 17, 2019
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Renee Lee
5
Votes |
26
Posts
Personal Finance

Will they freeze HELOC?

Renee Lee
Posted

If things go south with C19 I'll need my HELOC to cover mortgages. Plus my renters are do not have work from home jobs. How many months should I prepare for? Should I withdrawal all I possibly can before they freeze it?

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Chris Meadors's profile image
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Chris Meadors
  • Real Estate Agent
  • from Napa
  • Member since Oct 25, 2019
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Chris Meadors's profile image
Chris Meadors's profile image
Chris Meadors
  • Real Estate Agent
  • from Napa
  • Member since Oct 25, 2019
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Chris Meadors
  • Real Estate Agent
  • Napa
7
Votes |
15
Posts
Chris Meadors
  • Real Estate Agent
  • Napa
Replied

@Renee Lee

Im in Napa and most of my lenders have frozen HELOCs. First Republic can do them but at 65% LTV with tight requirements. I heard Wells Fargo might be a good bet right now. Act fast. Things are tightening every day (per my lender partners).

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