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Is My Home Equity Loan Still Tax Deductible?


Well, it’s tax time again and with the many changes introduced by the newly-minted GOP tax bill, there is confusion galore. One of the most important questions for homeowners is whether or not interest on home equity loans is still deductible.

A recent article in Forbes sheds some light on this vexing question.

The short answer is no. But there are exceptions. For example, if you plan on taking this deduction, your loan must be used to “buy, build or substantially improve” the residence that secures the underlying loan.

If you’re using the loan to do work on your home – things like replacing your roof or remodeling your kitchen -- you can still deduct the interest.

But if you’re using the money to finance your kid’s education, you’re out of luck. Same goes for using the money for a new car or for paying down your debt.

Fun times!

For the full article, click HERE:

Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.

Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.

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