Cityscape Financial (CTYS) Message Board

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Non-Tech : Cityscape Financial (CTYS)

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To: Rational who wrote (872)	10/12/1997 5:05:00 PM
From: Brooks Jackson	of 2544

<...these borrowers will not default...> We hope. <If there is a loss, it is a total loss.> My point exactly. <Making these "home-equity" loans is a way to make the interests tax-deductible.> Raising another question: has the IRS actually ruled on the deductibility of an "equity" loan that vastly exceeds the equity? If the IRS challenges these loans -- or if Congress tightens up in this area -- CTYS could have another "UK problem" right here at home. I will check on this point and post anything I turn up. I remain concerned that there is potential long-term risk to CTYS that is not being seriously discussed on this thread.

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