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December 28, 2017 by Christine Pratt

An article about Helocs in American Banker the day after Christmas begins with the opinion that “Americans who use their homes as ATMs are about to get hit with a sizable withdrawal fee,” referring to the removal of home equity interest deductions from income tax computations. First, any person actually taking cash withdrawals from a home equity account to meet living expenses is most likely already in financial distress that no tax credit can rectify.