There will be a time when you may wonder if you need to report the equity “cash out” from mortgage refinance as income?

You do your own taxes every year, but this year you may have this question. Suppose you just refinanced your mortgage recently. And you find out that you have a good amount of equity.

So you decid to “cash out” some of your equity to help pay off some outstanding debts including car loans, student loan, credit card balance. Read the rest of this entry »


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