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Category Archives: United States
Question for bankers with knowledge of home equity loans?
Myah F asked: I had an allodial title to my home, which was passed down. I signed a contract with a bank for a Home equity loan. As a condition of the loan the Bank agreed with me that I … Continue reading
Can I use profit from an investment sale to payoff a home equity loan to avoid capital gains tax?
mrjoe4jrh asked: I recently sold an investment property with some profit and if I use this money to payoff an home equity line on my primary residence, will I have to pay taxes on it?BRIAN
Posted in United States
Tagged Capital Gains Tax, Equity Capital, Home Equity Line, Home Equity Loan, Investment Property, Money Line
3 Comments
If I get a home equity loan do I have to claim the money as capital gains if I sell it and don’t buy another?
Kat asked: The equity is from the gain from past homes. I need the money to pay off debt and will not be buying another home. If the money is taken out as a second mortgage but repayed late this … Continue reading
Posted in United States
Tagged Capital Gains Tax, Claim Money, Home Equity Loan, Need Money, Pay Off Debt, Second Mortgage
4 Comments
How do I find out if someone is using my name for mortgage loans that I know nothing about?
Julio asked: I was looking up my credit report online and for the questions to make sure I was me I was asked about mortgage loans in two different years that I know nothing about. I’m renting a apartment and … Continue reading
How tax deductible are charitable donations and home equity loans?
djchuang asked: When they say donations and home equity loans are tax deductible, what does this mean? Does a $1000 donation mean $1000 less federal income tax? Does $1000 paid in interest on a home equity loan mean $1000 less … Continue reading