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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Order of paying off? Date:  10/19/2013  2:59 AM
Author:  aj485 Number:  307368 of 310154

AJ, this is gold! Thanks.

You're welcome :-)

Purchased for $156k in 2002; current value near $210k as assessed in 2010 when we refinanced the primary.
Draw expiration date: 08/01/2017

Okay, so it appears that you would be reasonably safe from BoA either cutting your credit line as you pay down, due to a low CLTV, and from having the draw expire before you need to write the check. So, your original strategy would likely work - but given the stories I saw about people's credit lines being cut, I still get concerned whenever anyone says 'and at a future date, I'll write a check from the HELOC to pay off xxxxx', especially when not being able to pay off xxxxx has the potential to cost them a lot of money if they can't write the check. And given that your HELOC is your lowest interest rate other than the medical debt - I'd probably still opt to go with the plan of paying off your wife's car and then saving to pay off the BoA card.

What are the minimum payments on each of your de