Residential HELOC's at risk?

[Benjamin E.]

Hey all. Just wondering what your thoughts are on lenders closing existing/open lines of credit, especially given what we are seeing with the markets. Anyone have experience with this from 2009?

[Pat L.]

Back during the 2008 housing debacle I had a line of credit drop by $25k. But I rarely used it so assumed it was that rather than them trying to pull back. We have been pestered by one of our banks for years to do a mortgage or a HELOC (prime+0.5) as everything we own is free & clear. It maybe dead/dormant/loss of opportunity equity BUT it doesn't cause insomnia & it gives the equities market the middle finger all day long :)