Question: > Anyway, using this same example (I’ll supply more information if that > is needed), what interest can we deduct from this loan? (The IRS > publication, and the prior discussion on Usenet, is quite confusing > on this matter — some advice seems to apply that for the example > above only a small amount of the interest will be deductible.) Please > post your reply to this newsgroup.
Answer: I used a home equity loan as the only loan to buy a property a few years ago. The loan came through Washington Mutual. For all practical purposes, doing that is exactly the same as a regular first mortgage. All the same rules apply.
Related posts:
- Credit card interest rates
- Credit card interest rates
- Quit Claim Deed
- Would you finance a car with an interest only loan?
- Farmers Home Loan Question
- Homestead exemption/your home
- buy down interest
- Mortgage Interest……good grief!!!!
- California is headed for a massive real estate crash in the next 12 months and it’s inevitable
- Tax benefits on owner occupied single vs. multi unit property(US and NY state)
- Tax benefits on owner occupied single vs. multi unit property(US and NY state)??
- A Good Washington Mutual Experience