One of the local news stations ran a story last week about Countrywide checks written on Helocs bouncing. Many of their customers had complained their credit lines were yanked without notice.

One woman was in the middle of a kitchen remodel when her check to her contractor bounced. She was left with a demolished kitchen, she still owes the contractor for the work done and she has no money to finish the project. I imagine the contractor will put a lien on the house. Kind of a sucky position to be in.