Reason #3 for home ownership
Consumers who carry credit card balances cannot deduct the interest paid, which can cost as much as 22%. Equity loan interest is often much less and it is deductible. For many home owners, it makes sense to pay off this kind of debt with a home equity loan. Consumers can borrow against a home's equity for a variety of reasons such as home improvement, college, medical or starting a new business.Not that more debt is a good thing , but being smart about debt is.