Have you had your bank call you and inform you that your line if credit has been frozen or lowered? That is not uncommon. If you are a home owner, age 62+, you can have a line of credit that can never be frozen or cancelled - and - it actually grows (currently about 4% a year), and never have a monthly payment. This is available with the the HECM line of credit. Many seniors do not have an emergency fund, or at best, limited savings. This may be a fine option, and it will not create a new monthly payment.

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