Article: Home Equity: Your Ace In The Hole
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Home Equity: Your Ace In The Hole
Almost 15 years ago, you bought your first home. You?ve been diligent in working and paying on the mortgage, and finally have more equity than mortgage. Ah, the sweet smell of victory, and home ownership. But are you playing the financial investment game as well as you think? Are you missing out on tax savings, funding strategies, or just plain smart money options? How do you check your equity options versus your tax savings options, to comparative shop and make use of your smart options?
Today, the tax benefits of retaining a mortgage on your home far outweigh the benefits derived from complete home ownership. Mortgage interest is fully tax deductible, and so are some of the options that come with equity lines of credit, second mortgages, or equity mortgages.
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