Russell D. Jessee

Sep 17, 2024 | jdsupra.com | Vincent Holzhall |Russell D. Jessee

DetailsThe idea of borrowing against equity in a residential home through a second mortgage has been around for almost a century. However, the popularity of a home equity line of credit (HELOC) increased in the 1980s following the Tax Reform Act of 1986, which did away with the tax deduction for interest on non-mortgage debt.