 |
Equity Loans | |||||||||||||||
|
|
||||||||||||||||
|
Equity Loans
A home-equity loan, sometimes also called a second mortgage, lets
homeowners borrow money by borrowing against the equity in their homes.
Home-equity loans exploded in popularity in 1996 as they provided a
way for consumers to somewhat circumvent that year's tax changes, which
eliminated deductions for the interest on most consumer purchases. With
a home-equity loan, homeowners can borrow up to $100,000 and still
deduct all of the interest when they file their tax returns. Home
equity loans are a great way for you to fund diversification of your
holdings, pay down high rate consumer debt or to just splurge. The
interest is tax deductible and the gain on your real estate asset can be
accessed.
|
|
||||||||||||||
|
| ||||||||||||||||
