Reduce Credit Card Bills

Luis G asked:


I have a first mortgage debt of 168k. My home is worth 280k. I have an unused HELOC of 100k. There are no liens or any other debt associated to my home. This is my primary residence. Can I used some of the HELOC to pay credit card debt and deduct the interest in tax return?

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100k, credit debt, Mortgage Debt

This entry was posted on Friday, December 25th, 2009, 7:41 am and is filed under Credit Cards. You can follow any responses to this entry through RSS 2.0. You can leave a response, or trackback from your own site.