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How to use HELOC to Payoff Unsecured Personal Debt

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Question: 
If a client has built his home with cash and non mortgage personal loans, can he take out a first mortgage HELOC to payoff his unsecured personal debt?
Answer: 

Of course, if he otherwise qualifies for the loan.

First published on BankersOnline.com 9/26/11

First published on 09/26/2011

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