Home equity loan lovers - Losers unless you use the equity for your home
The tax bill will require greater scrutiny from homeowners looking to use their home equity. Gone is the ability to use it however how want it and get a write off - currently, you can deduct the interest on as much as $100,000. Use your home equity line of credit (HELOC) to finance a car or a vacation under the new plan, and you will no longer be able to deduct the interest.
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