DISQUS

Consumerism Commentary: Seven Home Equity Tips, Part 5: Get the Tax Deduction

  • The Happy Rock · 2 years ago
    I never quite understand the 'its good for taxes' arguments on mortgage products. I agree with you that staying out of debt is the best choice.
  • thc · 2 years ago
    This is a little misleading. The $100,000 limit on home equity debt does not apply if the money is used for home acquisition or home improvement.

    It's also important to note that HELOC or second mortgage debt that doesn't qualify as home acquisition debt is not deductible at all if you are subject to AMT.