2nd mortgage

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  • liberty
    Member
    • Dec 2009
    • 79

    #1

    2nd mortgage

    A client still owe the bank 79000 principal. FMV of the home probably worth 250000. He wants to take out 2nd mortgage about 30000 against home to travel around. Is the second mortgage interest deductible?
  • terryats
    Senior Member
    • Jan 2019
    • 258

    #2
    find your answer here https://www.irs.gov/publications/p936

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