Like many people during the housing bubble, I was force to "reach" to purchase my home. Instead of going with PMI, I decided to finance the house with a 80/10 loan with the 10 coming from a HELOC.
With interest rates low, it was good choice. With interest rates climbing, it is looking "less good" and I have been thinking about options.
I should have my unsubsidized student loan paid off by April. Originally, I had planned to redirect the payment into savings. With a wedding to pay for, I am concerned my emergency fund might get a little light come Summer.
Now, I think it might be wise to reduce the savings and increase the HELOC payoff. At the very least, I am going to make it a priority once the emergency fund hits the target amount.