No. Some people refinance for lower rates but many people cash out for other things. That interest used for other things is not deductible.
It does not matter if loan 1 or loan 10, "this loan" means the one you are typing in to determine if it is a refinance or HELOC. Loan 1 would not be a HELOC or loan that was refinanced. While loan 2 would be a loan that was refinanced or HELOC.
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