25 years ago, I noticed the bank had mistakenly put extra money in my checking account (about $1200). I was changing banks anyway so I closed that account and took my $ to the better bank and opened an account. The first bank sent a couple letters that went unanswered and that was the end of it. :P
Back to the present. I had a $50,000 equity line of credit through my mortgaging bank. I sold my house and paid off the equity line of credit amount I had used. I just noticed my account still shows the equity line of credit, $50,000. I am able to do a transfer from the equity account to my checking account, so it is still "live". Why would I still have this equity line of credit if there was no more collateral (house) and if I wasnt paying attention when I move to another bank closer to where I live now, would the same thing happen that I described above?
Read more: Why do I still have an equity line of credit?
