<VV> taxes

[shortle]

But the interest paid on a home equity loan is deductible (depending on your tax situation) regardless of what you do with the money.
But I thought equity was a thing of the past that we all used to have. 
Timothy Shortle in (no equity) Durango Colorado 

-----Original Message-----
>From: Marc Marcoulides <hharpo at earthlink.net>
>Sent: Feb 22, 2009 12:28 PM
>To: virtualvairs at corvair.org
>Subject: Re: <VV> taxes
>
>Mortgage interest is deductable for the purchase or improvement of your home or 2nd home to the purchase cost of $1,000,000 interest paid even if home purchase or improvement above 1,000,000 is not deductable. A home equity loan not used to improve or purchase a home is not deductable.
>
>-----Original Message-----
>>From: Markpowhatan at aol.com
>>Sent: Feb 22, 2009 7:55 AM
>>To: virtualvairs at corvair.org
>>Subject: <VV> taxes
>>
>>How about if you use a home equity loan to finance your auto interests  
>>instead of say credit cards...wouldn't that be tax deductible??    Mark
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>>%3D62%26bcd%3DfebemailfooterNO62)
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