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You got questions, I have Answers(June 20th, 2010)
June 20th, 2010 10:08 PM

The following question contributed by a very smart borrower:

Q: I have a primary loan of 135k and the rental with no Loans. Is it better to
refinance my rental house and payoff the primary home?

A: This is a very creative idea. Indeed I think it's beter to have the loan on the rental house for the tax purpose. Since your standard deduction is about the same as the property tax plus interest; if you have the loan on your rental property, you can deduct all the interest on the rental and save more on the tax deduction.

What a smart borrower!!!


Posted in:General
Posted by Eric Fang on June 20th, 2010 10:08 PMPost a Comment

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