DLC BLOG
Your HELOC and declining property values
Home Equity Lines of Credit (HELOC) for many years have been a way for Canadians to unlock equity in their homes and use the money for investing, paying for children’s education or quite simply lowering their monthly interest payments on high interest credit cards.
This is all great if the property values remain steady, but if there has been a big upswing in value and the HELOC has been increased, here’s what can happen if the values start to reduce.