If you want to know your tax benefits it is best to consult your tax advisor or attorney for detailed tax guidelines. Anyway, in most cases the interest on your home equity line of credit is deductible only if your home equity debt is $100,000 or less and the total debt on your home is less than or equal to your home's appraised value. Any value of mortgage debt above your home's appraised value may not be tax deductible.
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