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ESTAPLACE.COM REAL ESTATE - FREE LISTING SERVICE -
is an accommodation and real estate directory, where real estate property owners or real estate agencies connect with vacationers and home buyers worldwide. If you are a seller, you can add listings in few seconds, and if you are a buyer you can search listings to find your dream property!
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Nesgroup address: misc.consumers.house - Date & Time for the message: Fri, 01 Apr 2005 23:28:43 GMT
/ Author of the message: Mark |
Title of the message: |
First Trust Deed HELOC -- deductibility of interest?
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Text of the message: |
Hello, My wife and I are considering refinancing our home with a rare type of loan that looks quite interesting. This loan is called a "First Trust Deed, Home Equity Line of Credit" (FTDHELOC). Our current loan is a traditional 15 year mortgage at 4.875%, with 13 years left on it. The FTDHELOC is a very common type of home loan instrument in Australia, New Zealand, and South Africa, but it seems to be quite rare here in the U.S. (HELOC's as seconds are common, however.) How it works is that the home is refinanced with a HELOC as the first (and only) home loan, typically up to 80% of the appraised value of the home. The loan is simple interest payback, so that requires strong financial discipline to pay down the principle. Since we are financially disciplined, and budget our monthly house payment, that's not an issue for us. This type of loan gives us greater cash flow |
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Estaplace.com is one the Ceglia Giovanni projects, started on 20 July 2005, and online since 20 August as a real estate platform for listings, mainly operating on the Italian and American/English market in the Internet, Estaplace would like to become the point of referiment for home sellers and home buyers, a site where private owners or real estate agencies can have the possibility to show their offers to the world. Estaplace.com is only one of the Giovanni Ceglia's sites. Everyday Giovanni Ceglia works to improve new Internet tools and services for online marketing and business. Estaplace.com will become the biggest portal for real estate business and investments online.