Comments on: Seven Home Equity Tips, Part 5: Get the Tax Deduction http://www.consumerismcommentary.com/seven-home-equity-tips-part-5-get-the-tax-deduction/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Tue, 29 May 2012 02:26:10 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: thc http://www.consumerismcommentary.com/seven-home-equity-tips-part-5-get-the-tax-deduction/comment-page-1/#comment-118513 thc Sat, 25 Aug 2007 20:54:52 +0000 http://www.consumerismcommentary.com/2007/08/24/seven-home-equity-tips-part-5-get-the-tax-deduction/#comment-118513 This is a little misleading. The $100,000 limit on home equity debt does not apply if the money is used for home acquisition or home improvement. It's also important to note that HELOC or second mortgage debt that doesn't qualify as home acquisition debt is not deductible at all if you are subject to AMT. This is a little misleading. The $100,000 limit on home equity debt does not apply if the money is used for home acquisition or home improvement.

It’s also important to note that HELOC or second mortgage debt that doesn’t qualify as home acquisition debt is not deductible at all if you are subject to AMT.

]]> By: The Happy Rock http://www.consumerismcommentary.com/seven-home-equity-tips-part-5-get-the-tax-deduction/comment-page-1/#comment-118498 The Happy Rock Fri, 24 Aug 2007 14:37:48 +0000 http://www.consumerismcommentary.com/2007/08/24/seven-home-equity-tips-part-5-get-the-tax-deduction/#comment-118498 I never quite understand the 'its good for taxes' arguments on mortgage products. I agree with you that staying out of debt is the best choice. I never quite understand the ‘its good for taxes’ arguments on mortgage products. I agree with you that staying out of debt is the best choice.

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