If your HELOC has been frozen, getting your original limit back is a long shot. However, you can try to “thaw” your frozen line by requesting a new appraisal. A recent CNN Money article explains:

“Call the lender’s customer service department and ask if it has an appeals procedure. “You generally will need to demonstrate that the value of your home hasn’t declined or hasn’t fallen by much,” said Keith Gumbinger, vice president, HSH Associates, a publisher of loan information based in Pompton Plains, N.J.

You probably will need a current appraisal. Ask your lender for a list of approved appraisers.

Call an appraiser on the list and ask about fees. They often charge a few hundred dollars. But the appraisal may help your frozen HELOC to thaw.”

If your lender refuses this option, consider refinancing the line.

See also:

Which Lenders are Freezing HELOC Lines?

What to Do if You’re Hit by the HELOC Freeze

Tags | Heloc, heloc freeze, lenders