12-14-2003, 06:03 AM
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 Re: Equity Line of credit "rookie" <rookie[at]yahoo.com> wrote - quote - > Can someone tell me the pros and cons on applying Equity Line of Credit?
The pros are, the mortgage interest paid may be deductible,the cons are, the mortgage interest may not be deductible, and it is an add-back item for Alternative Minimum Tax (AMT). The biggest con is, are you using a home equity line of credit to help a situation, or just maxing out your debt? - quote - > Is there a newsgroup on ELC?
God, let's hope not.----------- Life may not be the party we hoped for, but while we are here, we might as well dance. ----------- Paul A. Thomas, CPA taxman at negia.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
12-12-2003, 04:45 AM
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| Equity Line of credit Can someone tell me the pros and cons on applying Equity Line of Credit? Is there a newsgroup on ELC? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| credit, equity, line |
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