On Jan 22, 3:15*pm, N8N wrote:

8%? *I'm sorry. *Mine is currently under 5% - lower than my mortgage,
actually. *Of course, it got cut off back when everything hit the fan,
despite the fact that the only time it was ever used was to purchase
the house. *Y'see, I live in one of those areas where houses are so
silly expensive that it made more sense to use a HELOC to allow me to
purchase the house, rather than waiting until I'd saved enough for a
20% down payment. *through the weirdnesses of our tax code, I'm paying
off the HELOC faster than I'd have been adding to my savings account
had I continued to rent, with the added benefit that i'm living in a
house that I own, so I can improve it at my leisure rather than having
to wait.

Well, it's a fixed-term loan rather than a HELOC. My 15-year fixed-
rate
primary mortgage is about 5.25%. I'm about halfway through it, and
I'm really
starting to see some progress on the principal when I get my monthly
mortgage statement. The equity loan will be paid off this June.

Houses here (Ann Arbor, MI) are not that expensive. The average is
about
$200,000, give or take a few tens of thousands. That's usually a
three-bedroom
with two baths.

I don't mess around with revolving credit where my house is at stake.
Too
much risk for this old Midwesterner.

Cindy Hamilton