Posts Tagged ‘home equity’

More on the HELOC freeze from SmartMoney.com (with a shout out to yours truly).

From the comments, it looks like Citibank’s HELOC freeze is causing more than just a few bounced checks. Reader Barbara Clark says Citibank reported the loan as suspended on her credit report, turning it into a major negative account and trashing her credit.

I just spoke with a homeowner who bounced a check to her tree service because Citibank suspended her home equity line of credit before notifying her. When she finally received a notice from Citibank in the mail, it suggests that (PDF link) Citibank is apparently suspending home equity lines of credit nationwide due to [...]