Most HELOC carry a variable interest rate. In a very low interest rate environment, you may see your required minimum monthly payment going down if it is adjusted every six months or once a year. Keep an eye on the interest rate and when it is starting to go up it may be time to pay off your HELOC. When rates start to go up, so is your monthly minimum HELOC payment.
If you are getting ready to retire and you have a mortgage and a HELOC, consider paying off both before you retire, if you intend to stay at your home after you retire. You can contact your mortgage company and they will tell you how much additional you have to pay to pay off both loans at the time of your retirement. If possible start long before you retire when you are working and if you can afford additional payments.
Also, keep in mind that the interest you pay on HELOC is also deductible on your tax return. You can also deduct certain other cost related to obtaining a HELOC, such as points, on your tax return subject to certain limitations. Consult a tax advisor.