The credit union told me that I could no longer get advances from my Home Equity Line of Credit (HELOC) because the value of my home declined. The notice I received from the credit union stated that I could appeal the decision by obtaining an updated appr

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> The credit union told me that I could no longer get advances from my Home Equity Line of Credit (HELOC) because the value of my home declined. The notice I received from the credit union stated that I could appeal the decision by obtaining an updated appr

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Yes. Federal law permits lenders to collect bona fide and reasonable appraisal fees (and credit report fees if applicable) if such fees are actually incurred during a review of whether the condition triggering the reduction or suspension of the HELOC continues to exist. Please keep in mind that an updated appraisal may not lead to a favorable decision.