Real estate blog entries tagged with mid by Rob Spinosa, Mortgage Loan Originator, Marin County (US Bank)

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mid: Never Mind the Tax Cuts and Jobs Act, Here's the Homebuyers - 01/21/18 05:17 PM

Never Mind the Tax Cuts and Jobs Act, Here's the Homebuyers

Side One:
Mortgage Interest Deduction: Reduced from $1MM to $750K. Grandfather: If you have a loan that was originated before 12/15/2017, and your mortgage balance exceeds $750K, you are still able to deduct the interest up to $1MM. You're grandfathered in, unless... Don't Fear the Refi: If you refinance a mortgage with a balance above $750K and your loan was originated before 12/15/17 AND via the refi the loan balance does not increase, you will "carry over" your $1MM cap. HELOC'd and Unloaded: The mortgage interest deduction on home equity lines of … (3 comments)

mid: It's 2018. Will I Lose My Tax Deduction if I Refi? - 12/31/17 07:02 AM

It's 2018. Will I Lose My Tax Deduction if I Refi?

If you're asking this question, I'm going to go out on a limb and say you're experiencing some anxiety right about now. But no matter how bad it gets, realize things could always be worse. You could be the Internal Revenue Service and tasked on a couple weeks' notice with retooling your shop to both comprehend and implement the Tax Cuts and Jobs Act. So whether you're a homeowner, a CPA, a Californian, an IRS employee or a blue state Democrat, let's wash down a couple of Xanax with a strong martini … (22 comments)

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