February 2012 
There are 1 blog entries for February 2012.
Deduct Mortgage Interest and Home Equity Loans
Thursday, February 16th, 2012 at 11:29am. 391 Views, 0 Comments.
Deduct Mortgage Interest and Home Equity Loans
Deducting mortgage interest is a great tax benefit that can make home ownership more affordable. Your first mortgage isn’t the only loan that qualifies, either. In many cases, you can also deduct interest on home equity loans, second mortgages, and home equity lines of credit, or HELOCs.
If you want to deduct all of your mortgage interest, there are limits on both how much money you can borrow and on what you do with the money you get. You also need to itemize your return to reap the benefits of these deductions. Calculations can be complicated, so consult a tax adviser.
• Know your loan limits. A good place to check out what you can deduct before you borrow is…