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 robin
Joined: 22 May 2009
Posts: 1
1.27 Dollars($)
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 Posted: Fri May 22, 2009 8:51 am Post subject: Second Mortage in TX |
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| In the state of TX can you take out a second mortgage on your home? More specifically, can you do it towards a business loan? |
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jenkin7
Joined: 04 Jun 2007
Posts: 3429
Location: Hawaii
514.13 Dollars($)
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| Posted: Sat May 23, 2009 1:32 am Post subject: |
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Hi robin,
You can definitely take out a second mortgage on your home, provided there is enough equity in the property. Using the equity loan for business is a good idea. You can save taxes as the closing costs and the payments on the home equity loans are tax deductible. Your business can also save taxes by deducting the repayment of the loan as business expenses. |
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eric2
Joined: 28 May 2009
Posts: 20
6.32 Dollars($)
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| Posted: Fri Jun 12, 2009 2:09 pm Post subject: Dallas Based would like to help. |
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If you are still looking into this or would like numbers run or just options given please get in touch.
Gregg
gregg@amflending.com |
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