New FHA Regulation for HELOCs

[Flavio Zanetti]

Folks,

I was in the process of increasing my HELOC limit when BoA mentioned there is a new FHA limitation on HELOCs where the total number of mortgages someone can have in order to have a HELOC (bear in mind I was just trying to increase the amount) is now 5.

Do you know of any banks that do not have this same limitation for a HELOC?

Before you ask, I do have over 500K in my primary home equity plus A+ credit score, plus savings, etc.

Thanks,

Flavio