I think my HELOC has big teeth

[debee]

Yikes. I found my copy of our HELOC doc and it says my obligations are secured by the property (ok, expected that) ....

BUT it also says: Property securing any other loans with same lender may also secure this Agreement.

How's that for a loyalty program? The only loans we have are with this lender, including our principal res that we wanted to keep. Yikes!

Am I understanding this correctly? Because now I'm thinking we'll need to do a refinance with another lender if we want to keep the house...

[scorpion35]

i think they mean HELOC and HOME EQUITY LOANS not personal or credit cards

[Flamingo]

They are just protecting themselves as most creditors do. That is why before one signs any credit or loan agreements, including mortgages or HELOCS, the entire document should be read or reviewed by an attorney before anyone signs.