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Subject:  Re: Order of paying off? Date:  10/18/2013  12:05 PM
Author:  hrse Number:  307364 of 309837

AJ, this is gold! Thanks.

Is the $11k for the contracting net of taxes?

Yes, I already considered the taxes.

What is the value of your home?

Purchased for $156k in 2002; current value near $210k as assessed in 2010 when we refinanced the primary.

The refinance was with two banks different than BoA and BoA had to approve letting a newer loan be primary to their HELOC.

How old is the HELOC?

This was something I did not consider. However in looking at the loan documents I see:
Draw expiration date: 08/01/2017

I assume the HELOC is a variable rate loan?

It is variable, but I don't know what it is indexed to, nor what the cap is, but I do recall that there is a cap. However I don't see interest rates going up much from here, but that boarders on Economic/Political so I won't go any further on this board.

What are the minimum payments on each of your debts?

Chase Mortgage: 1,324