mortgage interest: Home Mortgage Interest Deduction - 09/23/09 05:01 AM
At one time, home mortgage interest was an unlimited itemized deduction for income tax purposes.  Many people still believe there is no cap on the deductibility of home mortgage interest.
I was in a presentation at the Broomfield Chamber of Commerce where Fran Coet, managing partner of CPA firm Coet & Coet, described recent changes to deductibility of mortgage interest.  The net effect is that both the interest on first mortgages and HELOCs are capped so that interest above a certain limit is no longer deductible.  This primarily affects the interest on loans where the new balance exceeds the original purchase … (1 comments)

 
Don Opeka (Orion Mortgage, Inc.)

Don Opeka

Arvada, CO

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Orion Mortgage, Inc.

Address: 10560 Wadsworth Blvd, Broomfield, CO, 80021

Office: (303) 469-1254

Mobile: (303) 469-1254

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