I want to cash-out refinance my home and invest the cash proceeds into stocks. Is there any way to deduct the mortgage interest costs against the returns from stocks? Thanks.
I got a mail for free money from a mortgage refi with NO payments forever. But when I sell, they get principal plus gains above 120%... Sounds good?
Line of credit is a better approach it's already going to be drawn against your home. Interest rate is the killer though. Hopefully you've been a good little boy.
This year your total itemized deductions, including mortgage interest, would need to exceed the new standard deduction of 24K in order to gain anything from itemizing. And of course you understand that your investment gains will need to exceed your mortgage interest+refinance costs to make this worthwhile? Good luck with that.
Mortgage rates are low right now. Returns are expected to be higher than the interest costs, especially if they are deductible. Well,at least the average returns of my strategies have been higher, even during past recessions.