I’m in a home sale contract in Houston Texas as the buyer.After the option period was over I found that the home was damaged by water (freezing water - burst pipes) in the winter storm in Feb 2021.

AC is not our primary concern in Milwaukee, emergency heat is often more important when temps drop below zero and you have literally hours before pipes can freeze.

Every time i've went to the house with an AC tech the home was freezing. 

Is there still a freeze on cashing out?

If you purchased from a senior citizen who was using the senior property tax freeze, their taxes may have been artificially lower because of the freeze. 

It is probably a little over paranoid but if the market were to collapse again I wouldn't want the bank that has the loans to be able freeze my operating accounts if they were to "call the loan" for some reason.

However, I'm concerned about the variability of the HELOC and my ability to keep the payment lower should rates rise quickly, and what keeps the bank from freezing my credit line? 

I live in upstate New York, where the pipes will freeze if you dont have heat during this time of year.

However I still very much like Vegas for some of the best if not best tax treatment all around in the US  and desert conditions IE no snow or hard freeze generally no soil issues  massive thunderstorms that ruin roofs etc etc.

A small 3 ton A/C unit is literally pumping enough heat out of the house to equal the energy it takes to freeze a 3 ton block of water to ice every hour !