I am considering using a Home Equity Loan as down payment for the purchase of a second property. I have two questions. Is it true that the interest will be tax deductable if I take out no more than 100k? Secondly, how much typically will a Home Equity Loan cost me in fees?
Posts Tagged ‘Will’
How Much Will A Home Equity Loan Cost?
Monday, May 11th, 2009Will I Be Able To Get A Home Equity Loan If I Am Currently In A Forebearance Agreement With My Mortgage?
Thursday, May 7th, 2009We will be listed as “entering foreclosure” until September, but have already made 5 consecutive payments into the forebearance plan, including a large down payment. However, in order to get our finances in order and pay education costs, we need to take out a home equity loan. Will lenders approve the loan (if we have one great credit score, one bad, and a good income) in our current state? Or would it be rejected outright?
