The perfect MP3 player
devel at muhlesteins.com
Mon Sep 19 13:36:18 MDT 2005
Tim Morris wrote:
>On 9/19/05, Dennis <devel at muhlesteins.com> wrote:
>>Get a home equity line of credit (with a fixed interest rate) for 100%
>>of the value of your current mortgage. Then use the equity line to pay
>>off your mortgage. You now only have an equity credit line payment and
>Doesn't this eliminate the posibility of using mortgage interest as a
>tax deduction? Did you factor that into your plans?
>I'm just trying to understand how this would work. I've never heard
>of such a strategy.
No, equity lines are the same as deductible as mortgage interest. You
even get a statement at the end of the year from the bank with the
Appropriate information to put on the tax forms.
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