KPMG recently published an article titled, “INSIGHT: Home Equity Interest May Still Be Deductible,” presenting its assessment of the 2018 tax law changes as it pertains to home equity lending. The following are highlights from the article.
It was originally perceived that the new tax law would be detrimental to home equity lending, but upon...
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3 Reasons Top-Rated J.D. Power Home Equity Lenders Choose Accurate Group
May 21, 2018
In its 2018 study, J.D. Power predicts a boom in HELOCs, stating the number of consumers taking out a home equity line of credit will double to 10 million in the next five years.
Are you prepared?
According to its recent new study – J.D. Power 2018 U.S. Home Equity Line of Credit Satisfaction StudySM –...
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Good News for Lenders and Taxpayers! Clarification on Home Equity Loan Deductions
March 7, 2018
On February 21, 2018 the IRS clarified that in many cases taxpayers can continue to deduct interest paid on home equity loans, lines of credit, or second mortgages, regardless of how the loan is labeled.
Beginning in 2018, taxpayers may only deduct interest on $750,000 of qualified residence loans. The new limits apply to the combined...
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A Win for Texas Lenders – Proposition 2 Home Equity Loan Amendment Passes
November 14, 2017
In the past, there has been 3% cap on home equity loan fees in Texas. With steep violations for non-compliance, many lenders limited volumes or avoided home equity loans altogether.
But as of November 7, 2017, a new Texas state amendment (Proposition 2) passed that lowers this risk...
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