In the tax legislation signed by President Donald Trump, home equity loans will no longer be tax deductible. Historically, borrowers could deduct home equity interest on loans up to $100,000 ($50,000 for married people filing separately). And unlike the deduction for interest on primary mortgages, home equity deductions are disappearing for both new and existing borrowers. But does the loss of the tax deduction make home equity loans a bad deal? The ability to get a tax deduction on home equity loans made home equity loans even cheaper.

Source: Forbes December 28, 2017 20:15 UTC