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Can I use money from an equity line of credit to lower my mortgage and refinance?

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November 17 2012 - US
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Answers (1)

The short answer is, "No."  You are trying to use credit to obtain more credit on the same home. If you were to use a line of credit on one house to refinance a mortgage on another house, you might be able to do that (it depends on your circumstances).
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November 17 2012
 
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