Table of contents for faq
What are the tax consequences of having a home equity line of credit?
You may be able to deduct the interest you pay on up to $100,000 ($50,000 if married filing separately) of the principal you borrow. The interest you pay is generally deductible regardless of how you use the loan or line of credit proceeds (unless you use the proceeds to purchase tax-exempt bonds).
December 2nd, 2007 at 3:54 pm
Dear Sir, Can we get a Heloc Loan on a Manufactuerd Home sitting on property that we don’t own? We can’t on a Reverse Mortgage. Do you have any information on a legislative Bill pending to change this so someone owning a Manufactured Home may obtain a Reverse Mortgage? Thanks for your time Anthony Payne