mortgage insurance: Mortgage Insurance Bad or Good? - 03/04/08 03:31 PM
I have been a mortgage lender since 1995 and have heard every negative comment, story, rant, and opinion about Private Mortgage Insurance (PMI). I never really understood why people had such strong negative opinions about PMI. I would, from time to time, try and explain that without PMI most people wouldn't have been able to buy there first home. Mortgage insurance, in my humble opinion, is great. That's right I said great. Without PMI I would never have had the ability to buy my first home, which would also have stopped me from buying my second home. Yea, sure I didn't … (4 comments)
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mortgage insurance: PMI / Mortgage Insurance is soon to be tax deductable - 12/12/06 03:37 PM
Well the government finally got this one right. Starting in 2007 PMI and/or mortgage insurance will be tax deductible for people with incomes under $100,000. This can be a real cash savings for those who buy a home in 2007 using a loan that has PMI (mortgage insurance). This law has been needed for many years in my opinion. If you buy a home next year with PMI you will end up paying less in income taxes then you would have this year. This is a great law change for first time home buyers and should help relive some tax burdens … (9 comments)
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