Equity line of credit a good idea to pay off my mortgage?
Might not be tax deductible. Would make sure the equity line of credit is fixed and no penalty for early pay off. I have not heard of this before but it sounds like the mortgage remains except with a zero balance. Technically it should work since when you get the line of credit you can use it for whatever you want. Just will not be able to record the deed in your name since technically they are still the lien holder.
