Quote:
Originally Posted by I-Hate-Hulse
Don't these HELOC's come with some sort of a "Cash Call" provision, that if the market value of the house drops below the amount of the line balance that you need to buck up and pay up?
Man, that'll be ugly here if that's the case.
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Woudln't mortgages come with the same provision then? They're both just credit secured against your home, one is just more accessable than the other.
And if that happened, which of the 300,000 homes in Calgary would the banks forclose on first?