To draw or not to draw

[Walter Fabiszewski]

I'm proud to announce the back in March 2020 I finally built my credit to the point where I was able to obtain a $92,000 HELOC on my primary residence. I found a property that I put under contract for $60,000 with approximately $25,000 in rehab needed. Unfortunately we have to wait to go through the probate process as I am purchasing this property from the estate of someone who passed away. This could take another 4 to 6 weeks. My fear is that since the HELOC has been sitting dormant for 8 months with no draws or any activity that the bank may close it on me any day. Should I play it safe, draw the money and put it in a savings account so I'm guaranteed to have it in 30 to 60 days and pay an extra 2 months in interest? Or, should I just be patient and wait until I get notification from the courts that the sale is approved and save on that extra interest? When I got the HELOC I was told by the bank that there would be a pre-payment penalty if I close the account before I believe it was two years because I didn't pay any closing costs and the bank needs to make it money.