I plan on taking out a (relatively) small HELOC to help with upgrades to my home. These upgrades are the likes of upgrading my 27 year old windows, putting a window in my windowless basement, adding a garage. But I am not going to do it until my mortgage renews in '09. Hopefully the housing market has settled a bit by then...
That being said, with the size of the HELOC I plan on taking out, and my original mortgage, it still doesn't surpass $200,000.
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