Refinancing Hard Money

[Ray Hayward]

I am curious to know, is it possible to refinance debt owned to a hard money lender with a bank mortgage as long as the equity LTV is 30%+?

I am looking at a property that will require some environmental clean up before a bank would fund construction costs.  I would be using private money for the clean up, then would like to refi with the bank for construction costs and cover some of the hard money costs.