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NEW TAX LAW MAKES HOMES TOUGHER TO BUY IN HIGH-COST AREAS

By Sandra Block – Kiplinger’s Personal Finance.

McMansions, or even more modest homes in some high-cost parts of the country, could become more expensive for home buyers in the coming years because the new tax law limits how much mortgage interest and real estate taxes you can deduct. It also changes the rules on how you can use a Home Equity Line of Credit (HELOC) deduction. AFA Founder Mari Adam, CFP® talked with reporter Sandra Block of Kiplinger’s Personal Finance about why it still makes sense to have a HELOC, even with the new rules, and how to handle an existing HELOC loan. (Read the full article here)

20 Mar, 18