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Business, 19.05.2021 19:10 jaaiphieaslade

Miller owns a personal residence witha fair market value of $308,000 and an outstanding first mortgage of $246,400. Miller gets a secnd mortage on the residence and in return borrows $15,400 to purchase new jet skis. Interest on the $ of the first and second mortgage is treated as qualified residence indebtedness.

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Miller owns a personal residence witha fair market value of $308,000 and an outstanding first mortga...
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