Should you refinance your home equity line?

In the new tax legislation recently signed, home equity loans (HELOCs) will no longer be tax deductible. Historically, you have been able to deduct home equity interest on loans up to $100,000 but with the new tax law, that deduction is now gone.

Unfortunately, that holds true for both new and existing borrowers - no one will be grandfathered in which makes all home equity loans more expensive in 2018.

So now the question is what should you do? Call me to discuss whether it makes sense for you to refinance your HELOC, because with rates bound to go up in 2018, now is the time to secure a lower rate and avoid the increase that's soon to come!