Froogle Scott comment at VREAA 20 Jan 2011 8:34pm –
“It’s been taking us about five months to pay off the amount of each cheque we wrote against our HELOC every two weeks during the height of our renovation. And that’s at an interest rate (variable) below 3%.
Thank god our renovation, once it really got going, didn’t last that long. And thank god we stopped when we did…”
[Those of you who don’t yet know Froogle Scott, check out the fascinating saga of his house purchasing and renos here: ‘The Froogle Scott Chronicles: Mortgaging Our Souls In Paradise’.]