Banking Tips for my customers and friends on Equity Lines

If you have an Equity Line, start making principal payments now monthly as in the next few years you will see your interest rate start to increase.  When the Feds start raising the bank rates, keep an eye on your Equity Line Interest Rate.  Most banks will let you fix that rate, but be careful, the fixed rate is very high right now.   If you can afford to refinance and add the Equity Line amount you owe to your 1st mortgage, do it now as rates will be rising on 1st mortgages also.