Posts Tagged ‘line of credit’

According to Glenda, she paid $600 to get her home re-appraised after Citibank suspended her home equity line of credit. All to no avail, as she has been unable to get Citibank to reopen her line of credit, even though the appraisal shows she has equity in her home.

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 [...]