How to Freeze a Home Equity Line of Credit
- 1). Call the customer service phone number provided on a HELOC statement or the original paperwork. Ask the agent about freezing your HELOC account.
- 2). Provide your name, address, account number and Social Security number to verify your identity and identify the loan. Each lender will have different policies regarding the freeze process. Ask if there are any penalties for freezing the HELOC, and if the freeze will be permanent or if you can remove it in the future. Keep a written record of the answers.
- 3). If you decide to freeze the HELOC after receiving the information regarding your specific lender and loan, ask the agent to send you confirmation of the freeze.
- 4). Keep the notes and the letter of confirmation in your records for future reference.