Sitting on a little cash + a HELOC of $115K. 

I'm trying to leverage the equity in my house because it "sits" there.

I may just let it sit for a few months though; we'll see.Good luck

NOW TO THE POINT, This house is entirely WOOD FRAME and was built in the 50’s (its been remodeled tho, its not in bad shape) Everyone around here seem to be staying away from wood frame, is that the case everywhere?

Don’t want to buy if I have to sit on it for a bunch of years.

I'd rather it sit empty.

Hey @Paul Latendresse - I'm very conservative but considering your current position and the market, I would say sit tight.

But at the minimum, I would get rid of the 20k sitting at 12%.

Sitting on a large amount of equity which I want to put to work later this year.

In addition to some clarity on the numbers mentioned by @Tom S. it would also be helpful to know the income and expenses on the property to see if paying more or paying higher interest makes sense.