Real estate blog entries tagged with tax deduction by Wayne and Lynda Gomillion (Real Living Hagan Realtors

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Home : Blogs : Wayne and Lynda Gomillion : Pinehurst - Southern Pines NC Real Estate and Relocation Guide : Tag "tax deduction"

tax deduction: Obama Administration Targets Mortgage Interest Deduction! - 02/09/10 11:36 AM

The interest deduction costs the Treasury more than $80 billion a year according to sources and President Obama's 2011 Budget just announced surprised many in Washington for going after what has been called one of the "Sacred Cows".
The proposed budget, caps the value of itemized deductions based on a taxpayer's income, in essence eliminating the mortgage interest deduction for single taxpayers making more than $200,000 a year. ($250,000 joint returns). The move is designed to raise nearly $179 billion next year by increasing taxes on wealthier Americans.
Current law allows interest on up to $1 million in total mortgages on first … (9 comments)

tax deduction: New tax deduction for mortgage insurance - 01/20/07 03:12 PM

According to Holden Lewis of Bankrate.com, Mortgage insurance will be tax-deductible in 2007. For some homeowners, the new law means it will cheaper to get mortgage insurance instead of getting piggyback loans.
The 109th Congress passed the tax law in its final hours. Hundreds of thousands of homeowners will save a total of $91 million when they file their tax returns in 2008, according to estimates prepared by the mortgage insurance industry.
"This is really going to help close to a million Americans who will buy a home next year using mortgage insurance," says Kevin Schneider, president of U.S. mortgage insurance business for … (1 comments)

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Wayne and Lynda Gomillion

Pinehurst, NC

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Real Living Hagan Realtors | Pinehurst ~ Southern Pines, NC

Address: 19 Chinquapin Road, Pinehurst, NC , 28374

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We’re NC real estate brokers and members of “The” Pinehurst Home Team. For nearly two decades we have served the needs of buyers and sellers of single and multifamily properties and offer a friendly, consultative approach to client’s real estate and relocation endeavors. Whether visiting or considering relocation, we encourage you to visit our websites and contact us for more information about the greater Pinehurst North Carolina area and the unparalleled quality of life the area offers.

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