Ray I understand the point better now, I should have been a bit more clear in my description. Once again, to me, paying down my debt is the goal. Now like you said, paying it as soon as you can, not just based on the first of the month mentality, saves even more money. Yes I agree it does. However I can do that on my own right? I just do it when I want.
To me, and perhaps I oversimplified this because I am a simple person, is that the HELOC affords me the ability to make payments when I cannot pay out of pocket. Then I pay the HELOC back. Now I think the point being made here is, hey borrow from the HELOC and make the payment that way because the long haul amortized interest is way more then the short term HELOC payment, especially if you pay that HELOC back quickly or only borrow a small sum from it.
So I guess the break even point really will depend on how much you borrow from the HELOC, how often, how long it takes to pay back, what your newly accelerated payment schedule is yeah?
I do think a crossover point can be found but man it is quite variable isn’t it?
