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Huddleston Tax Weekly » Blog Archive » Deducting Mortgage InterestThis is a discussion on Huddleston Tax Weekly » Blog Archive » Deducting Mortgage Interest within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; When you own a home and you pay a bmortgage/b on it, then the interest on that bmortgage/b may be ... |
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| Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower. |
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12-08-2008, 08:23 PM
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Huddleston Tax Weekly » Blog Archive » Deducting Mortgage Interest ...
When you own a home and you pay a bmortgage/b on it, then the interest on that bmortgage/b may be deductible on your tax return. Any interest paid on a line of credit or home equity loan also counts as bmortgage/b interest. b.../b
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