Hi Hot dog If you have Lines of Credit open or Overdrafts probably a good time to revert it to cash and deposit the cash elsewhere because the Bank's will probably wind it back if you don't.
LOC have a credit limit against a security. eg Val $300,000 80% LOC is $240,000. Say you have a mortgage of $200,000 so now you have $40,000 left.
So if you convert that $40,000 to cash then your balance will be to the limit of $240,000 and the interest bill will be higher.
How is doing this off benefit. Could you explain if this is what you meant. I am not totally familiar with this stuff so always happy to learn.
