Common Check Scams Beware of Mortgage Rescue Frauds

Trying to Fix a Clogged or Frozen Home Equity Line

What can you do if your home equity line has been reduced or frozen?

1. Contact your lender if you're facing a major cash shortage as a result of its decision. 2. Ask the bank to reconsider if your home's value has declined less than other properties in your area. 3. Make sure your home equity lender knows if you have significantly reduced the balance on your first mortgage. 4. Shop around for a new line of credit, but be prepared for a challenge. 5. Remember that home equity borrowers have rights under federal laws and rules.