Mortgage Interest Tax Deduction: back on the discussion block with the Deficit Panel! - 11/13/10 06:27 PM

The deficit panel is reviewing the “mortgage interest deduction”. This deduction saves homeowners $134 BILLION in taxes. By modifying the deduction over time, the government’s plan is to reduce the deficit, accordingly. But what about the homeowner impact??!!
Wall Street Journal News 11/11/10 on this subject:




What implication does this have on the homeowner?
1) The real estate market will further suffer! The financial benefit of owning vs. renting is the interest tax deduction. By eliminating it, or significantly modify it, will cause consumers to continue to rent.
2) Less available consumer … (4 comments)

100,000 points.....a reflective moment..... - 11/08/10 08:55 PM
100,000 points.  Sign of passion over this business? Perhaps I just love blogging? Enjoy receiving comments?   Look forward to the next client who finds me because of Active Rain? Or my intense desire to see us recover from this economic recession and see homeowner's STAY in their homes vs. suffer foreclosures or short sales?
 

I have blogged a lot about keeping the homeowner in their home and I am still passionate about developing a plan to do just that.
In summary, I propose
•1)      implementing new common sense underwriting guidelines for the loans which are eligible for refinance, but … (13 comments)

 
Ann Sabbagh, President, Sr. Loan Officer (Seacoast Mortgage Corporation, RI, MA & CT) Rainmaker_large

Ann Sabbagh, President, Sr. Loan Officer

Pawtucket, RI

More about me…

Seacoast Mortgage Corporation, RI, MA & CT

Address: 267 NEWPORT AVENUE, PAWTUCKET, RI, 02861

Office Phone: (401) 475-1600 x 306

Cell Phone: (508) 243-1190

Email Me

Seacoast Mortgage: Your place for:RI loans, MA loans, CT loans, FL loans, commercial loans, residential loans, FHA, VA, USDA, 100% financing, FSBO (for sale by owner) assistance. Find a loan in RI, find a loan in MA, find a loan in CT,RI mortgages,CT mortgages,FL mortgages,MA mortgages. Do you qualify for a loan? At Seacoast Mortgage, we qualify you within your means. What you can afford is different than what you qualify for. Call us today!


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