Great question, Here is the answer

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can I keep my equity line of credit if I refinance my mortgage? My line of credit has a $400 fine if it's closed within 2 years. How do I keep the line open and still can refinance my mortgage. The line is attached to my mortgage.
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This is a great question, and most loan broker who is worth of his salt can answer. Basically, you can keep the 2nd loan with a process known as subordination.

Normally the position of the loans are decided by the time it's recorded. However, there are ways to circumvent this rule.

For a house with 1st and 2nd loans, when you re-fi 1st loan, the bank would still want to be the 1st loan. That's when they ask the bank of 2nd loan permission to still be the 1st loan. This process is called subordination. It is initiated from the new bank. With luck, this process could be done anywhere between a few days to a couple of weeks. Any it may or may not cost a small amount of fees.

Hope this helps.
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