HELOC Frozen? Here's How to Take Action

During this recession lenders are cutting the umbilical cord to the funds as homeowners with a HELOC have a high likelihood of being severely delinquent on their mortgage payments, according to a November 2010 study by TransUnion, a credit management information company. The study indicated that under certain circumstances during trying economic times the presence of a home equity line of credit or a traditional home equity loan may contribute to consumers "rolling" their delinquency