We recently learned that many HELOCś, home-equity line of credit loans, were being frozen by lenders. We also gave advice on how to find out if yours could be in jeopardy and the steps to prevent it. What about those who´s HELOCś are already frozen?

Appeal to get it unfrozen. When it is frozen the lenders send you a letter explaining why and how to appeal it. One way to show that your house is not or was not affected by the market is by having a Realtor run the prices for all homes sold within the past 3 months that are in a 3 mile radius of your home. You can also ask the person who originated your mortgage to look into it, as well as have your home re appraised. All of this of course could come with extra fees, but it would certainly be worth it.

If the reason for the freezing is because of a risk profile change, look at your credit report, make sure to see whether or not your FICO score has always stayed current and that you have not missed any payments.

If all of the above does not persuade them to reinstate your HELOC, ask that instead of freezing it, that they give you a lower credit line. If they have your primary mortgage as a holding, it might make them more likely to work with you.

As a last resort, you could look at other banks and see their standards. With at least 10% equity, you could quality with another lender. bankrate.com is a good source to use.