My brand new $40,000 HEL at 7.5% covers -
mortgage debt - $28,000
cc debt - $6,000
car purchase, cash to fix car purchased if necessary - $4,000
property tax due at end of year, since it's no longer included in mortgage payment - $1,000
minor spending spree - $500

First payment of $475 on HEL due Sept 5.
Monthly take home runs $1,700.

Plan is to stash $200-$300/month in savings account. I know this is doable, because I have been spending $700-$800 on mortgage plus cc debt. This way I get to earn a little interest instead of paying a lot of it.

Coincidentally with paying off the mortgage at 10.75% and the high-interest cc's, one at 27% and one at 25% (yikes), I got a CapOne at 14.9%, so I'm covered there if I absolutely need it, but I haven't been using my cc's except for occasional online/catalog purchases immediately paid off for the last 18 months, and I DON'T PLAN TO START USING CC FOR ANYTHING ELSE EVER AGAIN. (The $6,000 is down from $9,000 two years ago.)

I have become addicted to this board in two short weeks, I am in awe of your honesty with each other on a very sensitive subject, the advice and perspective is priceless, and I am also in awe of the determination so many of you show.