Quote:
Originally posted by bilmore
No limit at all, as long as you put debt against a primary house. If you can get your banker to loan you ten mil against your one mil house, you can use ten mil for . . whatever. Cars, boats, second homes, vacations, blow, huge under-the-table contributions to local politi . . . . er . . . I mean, birthday presents, airplanes, . . .
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Dude, Consult your tax advisor.
Putting aside the $1m limit on mortgage interest deductibility, I'm pretty sure there's a second cap on home equity. But, hey, if you can stick it to the Man, mor epower to you.
