1. You might be putting your residence at risk Borrowing from the bank freezes: Even when the financing actually ended, the financial institution can freeze their line of credit in certain situations, such as for example if for example the house’s worth falls below the number it was appraised to have once you got from the HELOC. That means you could potentially no further utilize the HELOC currency your was in fact depending on. Are a HELOC best? Heck zero!