I bought my house 16 years ago for $99,000. I recently got divorced & need to refinance to buy out my ex-wife's share of the current equity, 95,000 (current value 270,000 - current mortgage & HE balance of 80,000 divided by 2). I'm going to ask for a mortgage of 200,000. What part of my new mortgage interest will be deductible on my taxes?
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