For homeowners looking to take out new applications for home equity lines of credit, they may be out of luck with some of the larger banks.
A few of the major banks in the United States still have a pause on accepting new applications for home equity lines of credit, known as HELOC, amid what they describe as economic uncertainty.
A HELOC is a line of credit that allows homeowners to borrow against the value of their homes, which can be used for large expenses ranging from home repairs or improvements.
