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January 1, 2015 06:31:07 PM
Borrowing & Managing Your Credit
In reply to John, Hampton
Great question, John and thanks for writing in. We hope you're doing well.
If you've set up an automatic transfer to your Home Equity Line of Credit, typically the funds are first applied to any monthly amount due, and any remaining amount is then applied to the principal on the account.
To make sure, we recommend reviewing this transfer with you in further detail. You're welcome to connect with our Financial Solutions Group directly 24/7 at 800-937-5020. After checking into the amount you're transferring and the requirements of your account, they'll be able to let you know how your payments might be applied. If you prefer, we can also assist you at any TD Bank Store location and to find your preferred Store, take a look here: http://bit.ly/TDStores.
Hope this is helpful, John and best of luck in the New Year!
Kristen P, Mount Laurel
January 1, 2015 06:32:48 PM