Paying a home equity loan with a rental home equity loan

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» Paying a home equity loan with a rental home equity loan

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Oct 21, 2006, 11:08 PM

Rolley Alibaba

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Join Date: Oct 2006

Posts: 2

Paying a home equity loan with a rental home equity loan

I own a rental property which has some equity. My banker has agreed to give me a rental home equity loan on my rental property. If I use this loan to pay off the loan on my residential property will I be able to deduct the interest from the loan on my rental property as an expense on the rental property? I live in Canada.

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