Need Financial Help

[Caveman]

Home Equity Line of Credit... I pulled one out on our house to use the cash for investments...

All is well but I'd like to sell the home now that's backing the loan. How does this work? Am I obligated to pay back the loan as soon as I close the sale on the house, or can I just keep it open, making payments on it just like when it was written agains the equity on the property I owned?

 

[dirtboy]

It gets paid back when the house closes. Since a HELC is like a 2nd or a 3rd mortgage, you can't keep it when you no longer have the asset backing it.