Hecm-low balance on l.o.c.-ways to increase balance (heloc, credit)

[starclay]

Hello-Friends.
Question on low balance of line of credit.
yes i used most all of it to pay off my $450,000 Home Mortgage to $0.0
how and when can i get an increase to this account?
I was told to wait one year to first aniversery of HECM Loan. Then refinance.
Heloc is not an answer for me at his time.
Is there any other ways i do not know about?
Thank you.

[rabbit33]

What you've written is extremely unclear, but I'd suggest paying your debt off, instead of just moving it around and thinking you've done something.

[starclay]

Thank you rabbit 33.
Yes i do not have any debt at this time.
First time in my lifetime.
Just was looking for ways to increase L.O.C. for access in the future.
Good day.

[rabbit33]

So you're out of debt and trying to figure out how to get back into debt?

[Seguinite]

Originally Posted by rabbit33

So you're out of debt and trying to figure out how to get back into debt?

You and I are both 'judgy', but what he/she wants the LOC for isn't the question. Lots of folks hang on that Discover card even tho they no debt. Samesie to me.

[SmartMoney]

So are you looking for a LOC that is not secured by property?