I have a HELOC with Wachovia and a first mortgage with another bank. I'm trying to refinance my first mortgage with the other bank and they have approved me with a 1% reduction in loan interest rate. However, in order to complete the refinance, Wachovia has to allow it and Wachovia will not allow the refinancing. The debt to Wachovia remains the same, I'm not taking any cash out, the overall risk reduces because my mortgage payment decreases, but Wachovia does not want to help. They even took $100 to review my application prior to telling me they couldn't approve the refinance because it's not their policy!