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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Got the same letter from BofA. I already pulled the money. Seems industry wide. (nt) Posted by JK (the other JK) on April 07, 2008 at 2:39 PM In Reply to: Re: Got the same letter from BofA. I already pulled the money. Seems industry wide. (nt) posted by david on April 06, 2008 at 10:18 PM : : : Got a letter Monday from Countrywide saying that my available HELOC funds had been suspended effective immediately. A friend of mine got this same type of letter from Chase! : : : The lenders are saying it's because of the drop in value of the underlying property securing the loans. : : : If you have funds availabe and intend to use them ... draw your money out fast, before they're taken away! : : : Jerry - Ca. : So they have the right to freeze it clearly. Does anyone know if they right to actually call the loan? Good question. I can't see a bank foreclosing on a performing upside down loan at this stage of the game. I've see some banks do some pretty stupid things but that would have to take the cake. Follow Ups: Re: Got the same letter from BofA. I already pulled the money. Seems industry wide. (nt) david 4:11 PM, 04/07/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : : : Got a letter Monday from Countrywide saying that my available HELOC funds had been suspended effective immediately. A friend of mine got this same type of letter from Chase! : : : : The lenders are saying it's because of the drop in value of the underlying property securing the loans. : : : : If you have funds availabe and intend to use them ... draw your money out fast, before they're taken away! : : : : Jerry - Ca. : : So they have the right to freeze it clearly. Does anyone know if they right to actually call the loan? : Good question. I can't see a bank foreclosing on a performing upside down loan at this stage of the game. I've see some banks do some pretty stupid things but that would have to take the cake. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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