<p>You’re lucky, SLUMom…I got that letter too, although I’m pretty sure I had plenty of equity left, and my HELOC was “callable”. They had never mentioned that before but, sure enough, it was buried in the fine print. They gave me 45 days to pay off the $18K balance (which I was using for working capital on another renovation). I was forced to sell some other property at a horrible price, was 16 days late paying off the last $3K of it because I did not want to pull money from my IRAs, and it’s still bugging the heck out of me that they reported that to credit agencies! Of course, it doesn’t say that I had paid down 80% of it within the 45 days, was in constant contact with them, and had faithfully paid on that account for over 10 years…not to mention the fact that they hold my mortgage which has also been current for all these years! Thirty years without a single late payment just to be trapped by that little clause…the same bank just sent me a “pre-approved” line of credit offer and I feel like writing “when hell freezes over” on it and slipping it in with my mortgage payment!</p>