I would contact the lender directly. Every set of loan docs/situation is different and they can only act on the agreements in place. Even then, if you can reach the appropriate department/person they may have some situational details for you.
I doubt they could call the HELOC, but the could probably freeze it. Typically the only time they can call it due is if the note has a balloon payment. I would recommend calling the servicer and receiving the answer straight from them. Good luck.
Hi Joanie, it really depends on the situation. I would check your HELOC paperwork regarding policies on what instances they would call in the HELOC. However, I know that when the credit crunch occurred, many banks called in and/or reduced HELOCs they had previously issued. You can check with your bank in particular -- they might have something posted on their website. Good luck!
The only way that would be possible is if your note says they can. What the bank would have done ahead of time is cross colaterized the properties before you bought the investment property. If that was the case then a lot of factors would come into play. Does your primary have any equity would be the first thing the bank would look at. I highly doubt all this is the case but check your closing papers.
I do not believe that the lender can call the HELOC due on a property that is not in foreclosure. I think the HELOC is specific to the activity on your primary. If your payments are made on time then they will probably close the line of credit down and not allow you to get more then your current balance.
If you have not been foreclosed yet and want to save that investment property you can do a leaseback.