By this point, you probably heard about changes in mortgage interest deductions. However, you may not be aware of changes regarding interest deductions for home equity loans. Basically, starting 2018, even if you have an existing home equity loan, you can’t deduct the interest.
Also, it’s important to know that the total of the first mortgage and home equity loan can’t go above $750,000.
Legal Guidance Now is for general educational purposes only and is not intended to provide legal advice on any subject matter whatsoever. Your use of the content provided by this website is at your own risk. Due to frequent changes in the law, some information on this website may not reflect the current state of the law. We are not responsible for any errors or omissions in the content of this website or for damages that arise from your use of the content under any circumstances.
No reader of Legal Guidance Now should act on the basis of any content included in this website without seeking appropriate legal advice (in consideration of the particular facts and circumstances at issue) from an attorney who is licensed to practice law in the reader’s state.