One of the advantages of borrowing money through a home equity line of credit is the possibility of deducting interest from your taxes. To put it simply: If your HELOC was used to improve your home, you may deduct interest on lines up to $1 million ($500,000 married filing separately). If your HELOC used for [...] [...more]
The home equity line of credit (HELOC) is a relatively new lending product. It seems that almost everyone has considered taking out a home equity line during the past few years. But, before the early 90′s, home equity borrowing was practically unheard of. The U.S. EcoMonitor recently published a very worthwhile article detailing the history [...] [...more]
One of the advantages of borrowing money through a HELOC is the possibility of deducting interest from your taxes. This article explains the basics of taking a HELOC tax deduction. How much HELOC interest can I deduct? To put it simply: If your HELOC was used to improve your home, you may deduct interest on [...] [...more]
One of the best aspects of a home equity line of credit (HELOC), is that the interest is often tax deductible. Because a HELOC is technically considered a home loan, most state and federal governments allow borrowers to deduct a significant portion of the interest they pay. Townhall.com classifies HELOCs as a type of “good [...] [...more]
