Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Would a bank lower your HELOC limit if you paid it off?
There has been no problems with my HELOC line of $90k of which I have a balance due of $80K. I am in the position to pay the full debt down but was concerned that the bank would reduce my HELOC limit if I did so. I have read that if they were to reduce your limit they can do it whether you are maxed or not. Is this so or would they wait till you paid it down to lower it? Professional opinions please...no guessing :)
3 Answers
- Go with the flowLv 78 years agoFavorite Answer
You have 80 grand to pay it off?
Pay it. But leave at least 6 months of living expenses in your savings account.
In case you lose a job.
Sounds like you can pay this off, and not worry about borrowing again
Dave Ramsey. Live Debt Free.
- ?Lv 78 years ago
your initial contract with your bank will tell you exactly when this HELOC will be reviewed and will expire. by all means pay all/or part of what you currently owe. if you cannot locate your orig. contract, go into the bank and ask the cust. assistance rep. for a copy. take your id.
Source(s): life experience - ?Lv 44 years ago
be taught the astounding print of the soundness circulate.... I gained one the region it allowed me to place in writing a be taught to myself and deposit it to my financial corporation corporation account... From there, i grew to alter into into loose to do with it as I somewhat soft.
