Statement From NAR President Elizabeth Mendenhall About IRS Clarification On HELOC Deductions

Dated: 02/27/2018

Views: 47

Image title


WASHINGTON (February 22, 2018) - National Association of Realtors® President Elizabeth Mendenhall, a sixth-generation Realtor® from Columbia, Missouri and CEO of RE/MAX Boone Realty, issued the following statement regarding the IRS announcement clarifying tax deductions taken on home equity loans, lines of credit or second mortgages:

"The National Association of Realtors® is pleased with the IRS announcement clarifying and confirming that under the new tax law owners can continue to deduct the interest on a home equity loan, line of credit or second mortgage when the proceeds are used to substantially improve their residence. There has been much confusion on this issue, and the continued deductibility will bring real benefits to those who choose to take on remodeling projects to bring more resale value to their home or gain equity that may have been lost during the downturn."

Source: National Association of Realtors

Latest Blog Posts

Owners Home Value Perceptions Improve In March

The gap between homeowner home value perceptions and appraisal values continued to improve in March, according to the National Home Price Perception Index released by Quicken Loans.The index found

Read More

Low Inventory Rising Rates And A Bustling Spring Market

By Liz Dominguez Spring is here, and, with it, a busy home-buying and -selling season. While real estate markets can vary widely by region, housing is currently seeing similar developments

Read More

Apr 6 2018 21886 2

Lots of things you buy come with a warranty in case they break down, from cars to smartphones. But what about homes? It turns out you can get a home warranty, too.So what the heck is a home

Read More

Apr 6 2018 21886 1

Welcome to the ultimate moving checklist—a list of all the things you should do before moving into your new home.Let's face it: With all the excitement of new digs, it's easy to forget

Read More