Hello, Colin. I have a heloc. I am now in payment mode. I make the interest payments for the loan, but I also used about $25 extra per week for the loan. I noticed that these payments were only for interest. I went to the credit union and asked if these payments could be applied in principle. The cashier surely said that there was a control box so that I could put your payments on the principle. YAY. Well, I go online in my credit and I realize it: these extra payments are just interest. I go back to the store and inquire. I was told that we could do it against ourselves because of the daily interest? What`s going on? Pfui.

I remember the time: I took out my first mortgage every two weeks and cut my mortgage repayment years in half. It stinks in a way, because I find it easier to find small weekly payments. Don`t ask me why. Hehe :)) All the words of your wisdom would be much appreciated. Once your home equity plan is open, if you pay as agreed, the lender usually can`t cancel your plan, expedite payment of your current balance, or change the terms of your account. The lender may stop credit advances on your account for a period of time during which interest rates exceed the maximum interest rate limit in your agreement if your contract allows it. What if my mortgage was paid? Does the seller of Heloc oppose the house as a mortgage? My question: in 2006, Bank A set up a first (80% conventional) and 20% HELOC as 100% purchase, because the sale of our first property was not yet completed. The first was titled as 80% LTV, the HELOC having been easily forgotten. In 2007, heloc`s ownership and service rights were transferred to Bank B. The DOT refers to MERS and the HELOC agreement has been left blank (this allows Bank B to change the terms of the HELOC agreement – unlike the traditional note, there is no language in the HELOC agreement regarding the transfer of the contract. There seems to be some discussion about whether a HELOC is a negotiable instrument.

How can Bank B become a creditor and service provider of HELOC if the “note” provides that it is an agreement with Bank A? I never registered HELOC again at Bank B to repay Bank A, so what requires me to pay Bank B? As for the note, I have no idea who owns it, although Bank C claims to take over Bank B (although HELOC may have been securitized by Bank B). . . .