Tax Reform Law and the "pay off your mortgage w/a HELOC" strategy

[Matthew Lockwood]

Ive been contemplating the "Replace your Mortgage with a HELOC" scheme to pay it off early.

Heres my very specific question:

If I do nothing with the HELOC , but simply replace my mortgage with it in the first lien position, and pay it down quckly (the reason for the strategy), can I deduct the interest?

I know that you can no longer deduct interest on a HELOC for "lifestyle" uses (ie paying off a credit card or taking a vacation) but you can deduct the interest if youre using the HELOC to, say, add an addition to your house, certain restrictions apply of course.

I dont want to replace my mortgage with a HELOC and subsequently lose the mortgage interest deduction as a tax perk. Can I write off the HELOC interest if I dont use it at all?

My example:

Home Value 255K, I owe 150K. Would replace the mortgage with a HELOC worth about 200K (80%LTV). I would owe 150K on the HELOC. Is the interest on that 150K deductible?

Thanks,

Matt