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If someone uses a line of credit tied to their investments

If someone uses a line of credit tied to their investments to pay off a home mortgage is the interest on the credit line tax deductible?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,384 satisfied customers
My father died recently and he did not have a will.He was

HI my father died recently and he did not have a will.He was divorced from my mother and was with someone and her special needs son for about 30 years never married. He was sick for the last 2 years.I just found out she and her son were using his credit card ( while he was still alive) I was told i would have to file to become administrator so I can take care of bills,property taxes and see assets close accounts.I paid to have his income tax done. Will I be responsible for the balance on credit card.I paid 15000 for his funeral and have to pay water sewer and taxes on his house until i can find out what is left and what debts he has

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Lev

Retired

Bachelor's Degree Equivalent

 
24,192 satisfied customers
I was recently asked the following:My Line of

Hello,I was recently asked the following:My Line of credit interest rate = 2.9%Which insurance premium payment method will cost the least:1st option20 days from now $46,152.3760 days from now $34,614.28120 days from now $34,614.282nd optiondown payment of $17,307.0010 equal instalments of $10,082.76Finance charges of $2,753.68Thanks,Rory

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Shawn P Adamo

CEO

Bachelor's Degree

 
4,724 satisfied customers
I have a roof issue, and I could just get it repaired.

I have a roof issue, and I could just get it repaired. However I should get a new roof since I plan to sell the house. What are my finance options if I decide to get a new roof.

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TaxRobin

Vocational, Technical or Trade School

 
20,340 satisfied customers
Where should I start if I want a business loan

Where should I start if I want a business loan for the construction of my office on my land?

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3,740 satisfied customers
How much money should I set aside on a disability

How much money should I set aside for taxes on a disability pension Amount is 100,000? Is it taxable?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,384 satisfied customers
I'm interested in insurance I heard about on a radio talk

I'm interested in insurance I heard about on a radio talk show that you pay into at whatever level I'd like to ensure I've a certain level of retirement income in the case that I live longer than I expect to. I've read that Drs predict someone who is 40 now should plan to live to be 100 because of advances in medical care. The insurance would allow me to not live below my means in order to protect against living longer than expected since I'd like to live well and die broke. Does this exist and who offers it? Also does an annuity not accomplish the same thing?

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PDtax

Owner

Master's Degree

 
6,684 satisfied customers
If I want a $2 million dollar mortgage, what would I

Hi if I want a $2 million dollar mortgage, what would I likely need to have as income ($amt) to be approved for one?Same question, but for a line of credit in a stock investment account.I imagine there's a rough equation used by lenders that would incorporate the two. If so what would it be? I am not working but have a net worth of about 8mm and am trying to decide how best to apply for a loan. I could create income by buying dividend stocks for a mortgage or loan or use a line of credit on a stock portfolio which may not produce enough for a mortgage but would support a line of credit. I just need to pick a strategy to use the banks money instead of mine.Thanks

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PDtax

Owner

Master's Degree

 
6,684 satisfied customers
Finance and mortgage related question

finance and mortgage related question

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Stephen G.

Sr Financial & Tax Consultant

Bachelor's Degree

 
8,906 satisfied customers
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