|
|
Article: Home equity loans getting a second look
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- November 3, 1991
- Author:
CopyrightCopyright (null) The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
|
Home equity loans, one of the last large tax deductions available
to homeowners, are coming under attack from some Congressmen who are
skeptical about how the loans are being used.
Congress is studying a bill that would effectively close one major
loophole, which lenders are aggressively using to finance purchases
of automobiles.
The bill, introduced last May by US Rep. Frank J. Guarini
(D-N.J.), is pending before the House Ways and Means Committee and
would be voted on as part of a general tax bill. However, the
chairman of the committee, Dan Rostentowski (D-Ill.) has said in
other reports that he sees little chance of a tax bill coming up for
a vote this year.
Lawmakers, led by Guarini, ...