When they gave you a HELOC for $100k, there is a 2nd lien recorded against your property for $100K until the line is closed.
Typically the monthly minimum payment is interest only, so if you used $50, your minimum payment would be around 33c, and your available line would now be $99,950.
You can pay the $50 back at any time.
Don’t confuse lien with statement balance.
Your current statement balance is zero.
Your recorded lien is $100K.
Back to the job at hand,, please find us some free money 😉
