mortgage insurance: Will Mortgage Insurance Still Be Tax Deductible After December 31 2010? - 11/18/09 10:15 AM
With all the rapid changes we’re seeing in the mortgage industry, those that have been instituted and many coming down the pipe, I haven’t heard anything about the tax deduction for Mortgage Insurance Premium that expires 12/31/2010. Right now, eligible taxpayers may deduct their eligible mortgage insurance premiums, including FHA upfront mortgage insurance and monthly mortgage insurance premium, USDA guarantee fee, and VA funding fee as well as the private mortgage insurance premiums required on conventional Fannie Mae|Freddie Mac vs. government loans. Although these mortgage insurance premiums are not nearly as much as the mortgage interest taxpayers deduct, they can
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mortgage insurance: Don’t Forget The Taxes and Insurance And Maintenance Expense! - 02/04/09 11:31 AM
Something I've always made a point of emphasizing with first time home buyers - and with long time homeowners and move up buyers as well - are the "other costs" associated with homeownership. Many first time homebuyers are focused on the principal and interest part of the mortgage payment, and when they use an online loan calculator (or often times when speaking to their loan officer), the attention remains on the principal and interest portion of the payment only. And it recently came to my attention that homeowners seeking note modification may also be focused only on the mortgage portion of
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