2million - My Journey to Financial Freedom

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Wednesday, June 07, 2006

Averting My Liquidity Crisis

I ended up pulling $5,500 from the HELOC on my 1st house to avoid any liquidity issues with paying off both 0% balance transfers and trying to stretch and put 20% down on the house I am trying to purchase. This should give me about $1,000 more cash than I will need to accomplish all these things.

The current interest rate on the HELOC is 7.75% and its variable so I will immediately begin to pay it down significantly as soon as I close on the house. I hope it will all be paid off within 1-2 months so the net cost of this should be less than $100 (not including the small tax deduction).

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