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Unless the balance is secured by the new home, it does not qualify as mortgage interest. Therefore it becomes a personal loan. Interest on personal loans are not deductible. - https://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/Deducting-Mortgage-Interest-FAQs/INF12...
Unless the balance is secured by the new home, it does not qualify as mortgage interest. Therefore it becomes a personal loan. Interest on personal loans are not deductible. - https://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/Deducting-Mortgage-Interest-FAQs/INF12...
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