I, in my name only, have a PLC at my bank that is past due 4 months. It is a revolving line of credit, pay it off reuse it. We, my husband and I, have a HELOC that is current. The bank is saying that unless I catch up my PLC then they can call both loans due in full. I had my lawyer look over the HELOC papers to see if there was any mention of cross collateralization and she found none, BUT there was a clause about NEW LOANS after the HELOC. Well I had my PLC BEFORE we got the HELOC. I did access the PLC after the HELOC but it was an established thing not NEW. Does anyone have any input or comments on this? My name is not on our mortgage at all but my name is on the HELOC.
Thanks so much
Thanks so much