Mortgage Insurance Tax Deduction Gone. Choose Your Own Loan Term Arrives.

Mortgage Interest Deduction Calculator - Mortgage Insurance Tax Deduction Gone. Choose Your Own Loan Term Arrives..

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We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from Mortgage Interest Deduction Calculator . www.rmilending.com 0 While you were ringing in the New Year, Congress was at work ripping out the heart of your tax deductions. The ability of people who buy or own a home to write off the premiums they pay for mortgage insurance is now gone. This change affects anyone who bought a home after 2006 with less than 20% down and paid PMI or private mortgage insurance. If you bought your house before 2007, you weren't able to claim the mortgage interest deduction anyway, so I guess you can be happy if you can't have it, no one can. Obviously this will have an affect on homeowners in the future with less than 20% down, since they can no longer enjoy the benefit of the tax deduction, and it might be to that buyer's advantage to consider a loan with LPMI or lender paid mortgage insurance that is built into the rate. If you want more information about LPMI as an alternative if you have less than 20% down, give me a call or send me an email. Now, there's 58 other tax code benefits that have also been eliminated, so you want to check with your CPA or tax professional soon so you don't run in to any surprises come tax time. 1:30 OJ Simpson may not be the sharpest knife in the drawer, but now he's found someone dumber than him, and no it's not his next girlfriend. Chase bank has been trying to foreclose on OJ's Florida home and they've been sending their process servers to his house on a daily basis trying to serve papers, only to report back that he wasn't home. Hmmm, hey Chase maybe ...
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