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dave_donhoff

urgent - chase heloc warning

dave_donhoff
15 years ago

URGENT - Chase HELOC WARNING

Folks,

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.

TAKE CARE!

Dave Donhoff

Leverage Planner

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