Securities are defined by the Securities Act of 1933http://www.sec.gov/about/laws/sa33.pdfThe definition is:The term ‘‘security’’ means any note, stock, treasury stock, security future, security-based swap, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a ‘‘security’’, or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoingSo, are loans securities?

If you used conventional financing you can move as often as you want.155.1 4.B.2.b FHA Requirement for Establishing Owner OccupancyFHA security instruments require a borrower to establish bona fide occupancy in a home as the borrower's principal residence within 60 days of signing the security instrument, with continued occupancy for at least one year.https://www.hud.gov/sites/documents/4155-1_4_SECB....Also, in regards to job an FHAPolicy Exception Eligibility Requirements Relocation A borrower may be eligible to obtain another FHA-insured mortgage without being required to sell an existing property covered by an FHA-insured mortgage if the borrower is  relocating, and  establishing residency in an area outside reasonable commuting distance from his/her current principal residence.

It's a form of debt, so I kind of view  the move of paying down the mortgage with a HELOC as essentially refinancing at a lower rate, but with a different debt instrument.

Everyone needs second chances, by you helping out you were instrumental in bringing the sparkle back in the eyes this 64-year young investor.

These are quite different legal instruments. 

I have another meeting next week to discuss details.Has anybody else used an instrument like this?

At least one borrower must occupy the property and sign the security instrument and the mortgage note in order for the property to be considered owner-occupied.

Safe act in your role will affect the enforceability of the security instrument and note.

I guess I really opened a can of worms with this topic.. here's what I see when I look up MGL Chapter 64D, Section 1:Deed, instrument or writing, whereby any lands, tenements or other realty sold shall be granted, assigned, transferred or otherwise conveyed to, or vested in, the purchaser or purchasers, or any other person or persons, by his, her or their direction, when the consideration of the interest or property conveyed, exclusive of the value of any lien or encumbrance remaining thereon at the time of the sale, exceeds one hundred dollars and does not exceed five hundred dollars, two dollars; and for each additional five hundred dollars or fractional part thereof, two dollars; provided, however, that in Barnstable county, the excise tax herein specified shall be one dollar and fifty cents for each five hundred dollars or fractional part of said consideration, excluding a consideration of between zero and one hundred dollars.The dollar amounts don't seem accurate, so I could be missing some other law elsewhere that I could not find.If I read this correctly, my interpretation of the above is that the tax is exclusive of any liens.

I mean an instrument you file in the county records to show there is a lien on the property.