Creative re-financing of HELOCS?

[Ashley Stephenson]

Hi, BP! My husband and I have HELOCs on two of our four rental properties, and we used them to purchase and renovate our new primary residence. With interest rates higher now, and with some misunderstanding of the terms (we thought payments were interest-only for the draw period, but turns out it's a flat 1.25% of balance.... a $700 monthly difference!), we are now facing a serious cashflow shortage. 

What are some options to get out of this hole? Here are our stats:

-- HELOC Balance: $175,000

-- HELOC Interest Rate: (variable) 10.25%

--Primary Residence: $532,000 loan balance, 4.75% interest rate this year, 5.75% next year, 6.75% thereafter, current value ~$700,000

--Rentals: interest rates from 2.75% - 3.875%

Cash-out refinancing any of the rentals doesn't seem to make sense because their interest rates are so good. We don't have the equity in the other properties to take out additional HELOCS (and also the rates/terms really wouldn't be a step in the right direction).  Looking forward to hearing some creative ideas! Thanks!