writeoffs to remember deductions in the loan process: Write-offs to Remember - Deductions in the Loan Process - 05/30/07 10:30 PM

Write-offs are the government's way of rewarding taxpayers when they've done something the government likes. And to judge by the write-offs, the government likes it when people borrow money to buy a house. There are write-offs aplenty, many of which people often forget.Make sure your clients take advantage of every break the IRS will give. Here are a few they tend to forget:Points:According to the IRS, origination fees charged as points must be paid for the use of money, (for example, to obtain a lower interest rate) in order to be tax deductible. Origination fees that constitute a "service fee" are … (2 comments)

 
Kevin Phillipson, NMLS: 167468 (Emery Federal Credit Union )

Kevin Phillipson

NMLS: 167468

Dover, DE

More about me…

Emery Federal Credit Union

Address: Dover, DE, 19904

Office: (302) 883-2032

Mobile: (302) 399-4829

My blog is intended to educate and assist other professionals as well as potential clients with understanding some of the lending industries terms, processes and key aspects in order to enable all to make more informed and better suited decisions.


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