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jitterbug1126
New Member

The other loan we have with Wells Fargo is a personal loan. They wouldn't put it through as a home equity loan. Can I still claim it?

 
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bwa
Alumni
Alumni

The other loan we have with Wells Fargo is a personal loan. They wouldn't put it through as a home equity loan. Can I still claim it?

If you mean can you claim it as mortgage interest, you cannot.  To be deductible as mortgage interest it must be secured by an interest in the property (i.e., a recorded mortgage.)

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2 Replies
bwa
Alumni
Alumni

The other loan we have with Wells Fargo is a personal loan. They wouldn't put it through as a home equity loan. Can I still claim it?

If you mean can you claim it as mortgage interest, you cannot.  To be deductible as mortgage interest it must be secured by an interest in the property (i.e., a recorded mortgage.)

jitterbug1126
New Member

The other loan we have with Wells Fargo is a personal loan. They wouldn't put it through as a home equity loan. Can I still claim it?

OK...thank you
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