Updated about 7 years ago on . Most recent reply
Re-Opening of a Closed HELOC
I have a rental property that I used to live in, which means I have loans against them in my name. After the financial crisis a bank that I held the HELOC with locked down the credit usage, meaning that I could make payments on the HELOC but this would not free up the capital for usage again. After speaking to the bank they stated they could do a reassessment of the loan and the property value and possible re-open it. My question is this; might they do a title search and find that the property is titled in an LLC?