Forum Archive: Posts by: tyca

Logged into my bank account today to find that my line of credit had been cut down by more than half. When I called the bank they told me it was due to a “reduction in property value”.

I know things ain’t peachy, but I haven’t noticed prices going down that much! Has anyone else had experience with challenging this type of decision? I put 40% down on my home, fer chrissakes, got a great lease on my rental unit and my credit is well above 750. What gives?!

I intend to go crying to the bank about this but wonder if anyone else has had this happen to them recently…? And if so what’d you do?