mortgage interest deduction: Republican Tax Bill Creates Little Impact on Los Angeles Home Prices - 11/09/17 12:07 PM
Don’t believe the scare headlines. The proposed change in the mortgage interest deduction from a cap of $1,000,000 to $500,000 for new loans will have almost no impact on prices of homes in the Los Angeles area. It is true that California will be impacted more than almost any other area in the US., but the impact will be modest, to say the least.
 
Under current tax law, the mortgage interest deduction is capped at $1,000,000 of loan outstanding. If you have a loan with a balance of $1,200,000, you are not able to deduct the interest on the $200,000. If … (9 comments)

 
Whit Prouty, Top 2% Producer

Whit Prouty

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