LOC - can the bank stop the funds

Hi,

Currently using a LOC to fund my IP's - with the tightening squeeze on the market, can the banks stop the funds being used to repay debts/ if you have available equity?

cheers

crdm

they can, but it would take a VERY brave bank to do such a thing because the damage to their reputation will be far greater than any benefit.

Are you with a big lender?

Cheers

Hi Bill,

This current LOC is with Macquarie? Obviously there area few people who are using equity to fund debt at the moment!

cheers
crdm

crdm

I don't believe that you have anything to worry about.

I am optimistic and believe that after the G7 meeting coming up
the credit markets should start to recover.

Cheers

Hi Bill,

Yes, I agree, I quite optimistic in the outcome as well. Thanks again for your feedback.

cheers
crdm