"We have determined that home values in your area, including your home value, have significantly declined. As a result of this decline, your home’s value no longer supports the current credit limit for your home equity line of credit. Therefore, we are reducing the credit limit for your home equity line of credit, effective March 18, 2008, to $10,000. Our reduction of your credit limit is authorized by your line of credit agreement, federal law and regulatory guidelines."
this is not something I made up, many people have received this notice . . .
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Fiddlers 20 from Fiddler magazine
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[image: fiddlers20_th]Fiddler magazine has come up with a unique way to
celebrate their 20th year of publishing. They have released a retrospective
CD/book...
10 years ago
1 comment:
If your HELOC or home equity line of credit was frozen, suspended or reduced by your mortgage lender or bank, you can share your home equity line of credit or HELOC complaints with other HELOC borrowers whose HELOCs were frozen:
http://heloc-complaints.com/
You could also try contacting class action attorneys investigating HELOC freezes:
http://www.classactionconnect.com/?q=node/751
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