a couple of HELOC questions I need Help with please..........

[Michael Dunn]

Hi ,

I have two HELOC related questions that I need some help with please

1. I have a 5 year Interest Only HELOC right now

Is there a way to to " Re-start " it back to the 5 year mark?  Like if I were to pay it all off in Full ? 

2. Is having a HELOC as good as having the actual cash on hand ?

EXAMPLE:

Say I want to have on Average , $30,000 for any time that I go to buy an Investment Property 

Is having a $20,000 HELOC at your disposal , as good as having that $20,000 in cash ( in a Savings account ) ?

Thank you so much for the help