Frozen home equity loan hurts family

The Chicago Sun-Times reports:

Jim and Cindy Ranallo are determined to give their two sons one thing they don't have: a four-year college degree.

But the home equity line of credit they were relying on to get both boys through school was unexpectedly frozen by JPMorgan Chase weeks before their elder son's recent tuition payment was due.

On Sept. 13, the account's balance went from $44,004 to $0.00.

These people found out the hard way that a house isn't a liquid asset.You'll want to read the whole article.