urgent - chase heloc warning
URGENT - Chase HELOC WARNING
Chase Home Equity & Subprime divisions just sent the "we're closing" alerts.
NOW... the likelihood of Chase freezing undrawn HELOC balances... even in NON-declining markets, just leapt up (I suspect) by a point of magnitude.
ANYONE here who has a Chase HELOC (or their sister competitor, Citi,) I would STRONGLY recommend drawing it completely TODAY, and parking the funds in a seperate bank account (non-Chase, non-Citi, as applies.)
NOBODY has even been forced into bankruptcy or foreclosure by having too much liquidity.
MOST who are foreclosed have more than sufficient equity... but no access to it.