mortgage interest deduction

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IRS: Interest paid on home equity loans is still deductible under new tax plan

Feb 22, 2018By

The country’s new tax laws, ushered in by President Donald Trump and his Republican counterparts late last year, will bring many changes to the mortgage industry. Namely, the plan reduces the available mortgage interest deduction from $1 million to $750,000. But what’s the impact of the tax plan on home equity loans, home equity lines of credit, and second mortgages? The IRS has answers.

3d rendering of a row of luxury townhouses along a street

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