Loan Modification

Hi,
To buy new house I took HELOC against my old house which I planned to sell shortly to pay off HELOC. I could not sell my old house so I am using it as rental property now. I want to convert HELOC into fixed rate secondary mortgage. If I convert HELOC into fixed rate mortgage, when I sell my rental property will the money from sale be transferred to my primary mortgage company without lump sum distribution to avoid tax penalty?
Thank you

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Tags: Buy House, Convert, Fixed, Fixed Mortgage, Fixed Rate Mortgage, Heloc, House, Lump Sum Distribution, Money, Mortgage, Mortgage Company, Mortgage Tax, New House, Penalty, Rate, Rental Property, Secondary Mortgage, Sell House, Sold, Tax Penalty

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