Equity line of credit management

Kevin Palmer
Kevin Palmer Member ✭✭
edited March 17 in Download, Add/Update Accounts (Windows)
I wouLd like to link my EQLoC to my home asset. My bank presents the EALoC as a CC and not as a loan. Does anyone have any suggestion how to link the 2? thx
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  • UKR
    UKR SuperUser ✭✭✭✭✭
    Line of Credit and Home Equity LOC accounts are not equal to mortgages. Because you can take money out, pay it back and repeat the process multiple times, LOC and HELOC accounts are best maintained as if they were Credit Card accounts.
    Do you already have a mortgage linked to your House asset account? If so, AFAIK, you can't link another account ... unless that's already paid off. Try re-linking from the House account once the LOC account has been added.
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