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!
