CHASE BANK HELOC (I’M CONSIDERING A ADJUSTABLE RAE MORTGAGE)?

Hi, my current loan situation is the following I have a home loan at 6% fixed and a HELOC at 7.45%. The home loan is working well and I have $ 291,000 left to pay off while on the HELOC I have $ 74,955 and my monthly payment of $ 455 is all interest or finance charges its ridiculous. I talked to CHASE about an ARM adjustable rate mortgage and they said I could terminate my 7.45% HELOC and get an ARM at the prime rate which is 3.25%, I’d have to pay a $ 250 early lock termination fee.
I need some help what would you do the HELOC is for 30 years with the maturity date being 2016 what does that mean? If I were to take the ARM my monthly payments would be around $ 190 dollars and I think anything I pay above is deducted from my principal.
WOULD YOU KEEP THE FIXED HELOC RATE AT 7.45% OR THE 3.25% ARM CONSIDERING THE PRIME RATE IS REAL LOW, DO YOU THINK THE PRIME RATE WILL EVER REACH AS HIGH AS 7.45%. I HAVE HAD THE HELOC FOR ABOUT 2 AND A HALF YEARS AND THE PAYMENT IS MOSTLY ALL INTEREST WHICH I HATE BECAUSE IT’LL TAKE FOREVER TO PAYOFF AND I COULD BENEFIT WITH A LOWER MONTHLY PAYMENT,

SORRY FOR WRITING A LOT, YOUR ANSWERS AND INSIGHT WOULD BE APPRECIATED THANKS

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