The banks could freeze your credit available and not allow you to use the credit. Many lenders did this very thing the last go round. Consequently, a lot of borrowers hearing about this going on accessed their lines of credit to get their “Cash/ Equity” out before it was frozen and simply moved it to a bank or other account just in case.
The note won’t be called due necessarily, unless you were in breach like not paying, but would still have the same terms in place. They can’t change them after you’ve both agreed to the terms. Read your Note terms.
Yep, I used to have a $200k heloc in ‘06, they chopped it to like $80k in ‘09 or ‘10.