Hi, I have a property in my name using a HELOC. I had wanted to move and need to go to another bank to take over the HELOC and up the credit available in order to give a down payment for the neww home. I had signed all of the papers with the second bank and they paid out the first bank and requested that they close the account. The first bank DID NOT closing the account and I have since been able to use that line of credit. technically there is NO calateral on the propert with the first bank as the second bank now technically owns it. So I have now inquired a huge amount of debt as they didnt close the account as legally submitted to the bank. So what are my rights and what do I do????? Please help I'm loosing sleep!