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 Is a home equity line of credit tax deductible?

Answer If you have high-interest loans, a home equity line of credit may be advantageous--not only is the interest rate lower, but it may be tax deductible as well. If you already use a Schedule A, you ca... Read More »
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Top Q&A For: Is a home equity line of credit tax deductible

Is a home equity line of credit (HELOC) tax deductible?

The interest on a home equity line of credit (HELOC) is tax deductible up to a limit. To claim the deduction, you must file your taxes using Form 1040 with attachment Schedule A.What is a HELOC?A H... Read More »
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What is the difference between a home equity loan&a home equity line of credit?

Home equity loans and home equity lines of credit are two ways to borrow against the value of your home. Though they both use your home as collateral, they differ in a number of ways.Accessing Fund... Read More »
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Are home equity lines of credit tax deductible?

Only some of the interest on home equity lines of credit is tax deductible. The amount you can deduct depends on your filing status and how you use the proceeds of the loan.Interest LimitsFor most ... Read More »
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Can Reduction in a Home Equity Line of Credit Affect My Credit Score?

A home equity line of credit is a type of secured revolving credit that uses your home's equity -- the value of the home minus mortgage owed -- as collateral. In certain cases, your lender may deci... Read More »
http://www.ehow.com/about_7351801_can-credit-affect-credit-score_.html


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