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Steve is absolutely correct. I did it that way because it was "easy" to get the HELOC on my primary residence many years ago when I was refinancing (before my mortgage was paid off). I've since used it because it was "there" & convenient, and I could have covered the HELOC in other ways if I had needed to. I would think "long & hard" about using my primary home as leverage (for ANYTHING, including rental property) otherwise, 'cause I'm an advocate of being debt free whenever possible (particulary in these economic times).
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