Payroll Tax Cut Extension, UPDATE:
I wrote about why you should care about the impending payroll tax cut extension legislation coming down the pike a couple weeks ago, refresh your memory here. The payroll tax cut extension has passed and guess what, if you own a home then you may be helping pay for the “cost” of the tax cut extension. Guarantee fees, or G-Fees, will increase no later than April 1’st of 2012 according to this article by National Mortgage News. Another part of the law requires FHFA to review the g-fee hike and make sure that it’s sufficient, meaning that they may raise it even more. Congratulations homeowner’s, you’ve been taxed again, but it’s not being called a tax, it’s a fee hike. This is why it’s so important to shop for the loan program that meets your particular needs. Contact me today for a free, no obligation mortgage review.