Rental Cash Damming
I had a quick question regarding once your primary house mortgage has been paid off using the cash damming strategy with a rental property. If for example you have paid off your primary house mortgage using cash damming and have accumulated a balance on your HELOC that was used to pay for the rental expenses can you in turn convert that HELOC back into a primary mortgage on your personal house and claim the mortgage interest? I assumed you could since the HELOC amount was used for the rental property. The only reason I was thinking to convert the HELOC to a Mortgage was getting a lower interest rate to help pay it off quicker. Thoughts?