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HELOCs Are Riskier Than You Think | Raleigh News
Description
Home equity lines of credit are exploding — total debt hit $446 billion in Q1 2026 — but beware: you’re turning credit card and medical debt into secured debt with your house as collateral. Banks like Bank of America warn that missed HELOC payments could trigger foreclosure, even if your mortgage is current. Payments can skyrocket when the draw period ends, doubling or tripling monthly costs. Use HELOCs only for true emergencies or home improvements — not debt consolidation or non-essential spending — or risk losing your home and still owing money.
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