Borrowing against equity in home? Some interest not deductible - 2005-04-01
Low mortgage interest rates made 2004 another big year for refinancing mortgages, and home-equity borrowing in the United States saw a record-high level last year, a new study reports.
Americans took out $431.3 billion in home-equity loans and lines of credit, according to SMR Research, a market research firm in New Jersey. That's 35 percent higher from 2003.
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