mortgage interest deduction: WHAT WOULD THE ELIMINATION OF THE MORTGAGE INTEREST DEDUCTION DO TO OUR BUSINESS? A RANT!! - 06/27/11 07:38 AM
* * * * Hard Core Real Estate Talk * * * *
MIKE JONES ASKS, "What Would Elimination of the Tax Break for Mortgage Debt Do To Your Business? GLAD YOU ASKED, MIKE.
Sadly, I suspect that the question is really, "What WILL Elimination of the Tax Break for Mortgage Debt Do To Your Business?? If there is any money out there left, Congress will sniff it out and transfer it to their contributors.
This post inspired by Mike Jones's article of June 24th. Hey, it's summer and the weather is nice and summer fun has taken … (70 comments)
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mortgage interest deduction: The senate is eyeing the mortgage interest deduction again. - 02/28/11 04:10 PM
FROM THE WASHINGTON POST
The senate is eyeing the mortgage interest deduction again. By Kenneth R. Harney Friday, February 25, 2011; 10:18 AM
As deficit looms larger, senators' eye cuts in mortgage interest deductions
"Just because President Obama's latest budget proposal calls for rollbacks in mortgage interest deductions solely for high-income taxpayers, should you assume that all of your write-offs as a homeowner are secure from attack?"
Absolutely NOT . . . . more. . . .
… (19 comments)
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mortgage interest deduction: Let’s Stop Whining About the Mortgage Interest Deduction??? A COUNTERPOINT! - 02/15/11 03:30 PM
"Let's Stop Whining About the Mortgage Interest Deduction"??? A COUNTERPOINT!
IS THE MORTGAGE INTEREST DEDUCTION A SACRED COW? OR, is it, as I believe, an important contribution to the STABILIZATION OF THE HOUSING INDUSTRY?
John Mulkey, one of my favorite ActiveRain bloggers, and I have a fundamental disagreement about the value of the mortgage interest deduction.
John writes: "The majority of our "leaders," myopic myrmidons incapable of non-partisan action, are either unable or unwilling to see beyond the next election. We, however, could set the example by demonstrating our readiness to take our "bitter pill" today, with the awareness that … (29 comments)
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mortgage interest deduction: IS THE ORIGINATION "POINT" DEDUCTABLE?? YES! The IRS says so! - 07/25/10 06:33 PM
IS THAT ORIGINATION POINT ON YOUR HUD-1 DEDUCTIBLE? READ THE IRS WEB SITE AND THE ANSWER IS PROBABLY YES, YES, YES.
YOU'D BE SURPRISED HOW EASY TO READ THE IRS WEB PAGE IS.
Agents and loan officers sometimes advise buyers and sellers about the deductablity of the certain items on the HUD-1.
For instance, home buyers often ask their real estate agent or loan officer questions about detectability of closing costs. Sellers ask too, but not as often. Buyers often depend on the detectability of mortgage interest to bridge the gap between renting and buying. Clearly, the higher the income, the more … (86 comments)
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mortgage interest deduction: I HATE TO SAY "I TOLD YOU SO", but. . . . . . . "OBAMA TO LIMIT MORTGAGE INTEREST DEDUCTION!" - 02/01/10 02:04 PM
LIMITS ON MORTGAGE INTEREST DEDUCTION was once a "sacred cow" of tax law. No more.
The American home owner is square in the sights of the budget released today.
On October 25, 2008, a bolt of lightening struck me and I realized that there is no income protection safe from the government's zeal to play chess with the American tax payer's assets.
An article published by the Wall Street Journal, back in Oct. 2008, discussed the government's need for cash to fund programs that were being discussed by members of Congress.
These days, the Wall Street Journal discussed the Obama budget's plan to limit ALL … (131 comments)
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mortgage interest deduction: RAISING THE DOWN PAYMENT FOR FHA INSURED LOANS TO 5% IS O.K.????? - 10/08/09 06:20 AM
RAISING THE DOWN PAYMENT FOR FHA INSURED LOANS TO 5% IS O.K.?????
Just wait until the folks on Capitol Hill proposing the down payment change rediscover another good source of money for income redistribution. Since the American home owner has few, if any, protectors on Capitol Hill, sooner or later I predict that, a few of them will again attack the Home Mortgage Interest Deduction. Each year, the Home Mortgage Interest Deduction puts about $70Billion in the hands of American home owners. The government spenders, Congress, want that money.
This post inspired by Jeff Belonger's thoughtful article on this subject on October 7.
WARNING: This is a … (37 comments)
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