Updated over 3 years ago on . Most recent reply
What happens to HELOC when you use Section 85
Can someone who has experience or knowledge of Section 85 give insight to the effect of the heloc segment? If my existing mortgage has a heloc segment and the property is under my personal name, when I move the property to a corp under Section 85, will the bank (in this case, it is an A lender) still give me an heloc, or will that be moved into a 'new' mortgage segment under the corp or will I have to pay it off. Thanks in advance.