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Generally, yes. They are no different than second mortgage loans.
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∙ 14y ago
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Is a Gift Of Equity taxable?
A gift of equity may be taxable depending on how much it is. A gift of equity can be given without the recipient of it is worth 12,000.00 or less. However, if you are a couple, or there are two owners of the house giving you equity, you would be able to obtain 24,000.00 worth of equity without it being taxable.
What does a line of credit equity do for someone?
An equity line of credit acts like a loan and most common known to be used for financing a home loan. These lines of credits generally have lower rates and when used for a loan, do not hold the same criteria as traditional mortgages.
Where can a person go to get information on equity lines?
One can get information about equity lines at local libraries, books, looking up information online or speaking with an equity lines expert, and many other ways.
Which websites carry details on home equity lines?
A good website to find resources on home equity lines would be consumerfinance,gov , there you can find information regarding what you need to know about home equity lines of credit.
Where can I find information on federal tax credits?
Federal Tax Credits are credits that reduces your taxes by the dollar as opposed to reducing your taxable income. More information about it can be found online at http://www.federaltaxcredits.org/.
Will you get the refund even if you had no taxable income after all the tax credits?
Do you mean the stimulus payment? If so, then yes.
Why do people have tax returns?
A tax return is a report of taxable income, taxes paid, deductions and credits. Law requires that a person with taxable income file a tax return with the IRS.
Do you have to say lines when you go out for an extra in a movie?
No because at the credits whoever says a line gets a spot in the credits extras do not get in the credits
Where can I find my information on home equity lines?
You can find information on home equity lines at a number of places. Check easyhomeequitylines.com. You can also contact some of your local banks to find out rates as well.
which banks offer cheap equity lines of credit?
There are a number of banks offer cheap equity lines of credit. I would suggest bankofamerica, Chase, Ally bank, Citibank to name a few. There are a lot more.
Home Equity Lines of Credit?
In addition to home equity loans, it is now possible to obtain home equity lines of credit that allow you to borrow only the amount you need at any given time, even though you have access to an amount similar to that of a home equity loan. A home equity line of credit is similar to a credit card in terms of how it is used, except that the credit limit is backed by and based upon the equity value of your home. It is even possible to apply for a home equity line of credit from online lenders.
What is meant by equity credit lines?
A home equity line of credit is a loan in which the lender agrees to lend a maximum amount within an agreed period (called a term) where the collateral is the borrower's equity in his or her house.
