Question by grip: can i refinance a 10 year home equity line of credit without refinancing my existing mortgage?
running downhill on my mortgage and don’t want to start over
Answer by AllCourt
Is there a balance on he line of credit? If so, and it is a 2nd behind your primary mortgage, then yes, you can refinance it by opening up a new home equity line or with a home equity loan. I have done that before. There is no need to pay off the 1st mortgage when refinancing a 2nd with a new 2nd.
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