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Tag Archives: Equity Interest
Can I use interest from home equity loan on a schedule E if 100% of the funds went to purchasing a 2nd home?
xredhat88 asked: I want to buy an investment property I found for $50K. If I take out a home equity loan and use 100% of the money borrowed to buy an investment property can I list the interest I pay … Continue reading
How do “Refinance” companies make profit on equity “interest only” loans?
Michael K asked: Last year, I was compelled to agree to an interest only equity home loan. I paid cash for my home 2 years prior, and owned the home without mortgage of any type. Now, I am paying off … Continue reading