Beware of HELOC & 2nd Mortgage Traps on Refinancing

I found this article today on Money Musings about the pitfalls of trying to refinance your mortgage when you have a 2nd or HELOC on the house: A significant number of my personal acquaintances purchased homes (newer, larger) within the last several years. Inevitably, they were also convinced that financing via an 80/20 first/second mortgage [...]