More good news for buyers. Congress recently passed a new law that makes borrower paid mortgage insurance a tax deductible item for people that earn $110,000 or less annually. For most people this will equate to an additional savings of over $400 per year. Previously mortgage insurance was not a deductible item. The borrowers only choice to make it deductible was to choose a loan program where the mortgage insurance was built into the rate(usually a higher interest rate was the end result). Thank you congress for the tax breaks and please keep them coming.
Borrower Paid Mortgage Insurance is now Tax Deductible
By JOHN DANIEL|January 11th, 2007|Real Estate Investment|
About the Author: JOHN DANIEL
John is a well-rounded individual with multiple degrees in business, science, and medicine. Currently, John holds a California Brokers license and has founded Daniel Realty and Investments, considered to be a premier specialty Real Estate Brokerage firm that customizes its approach to its clients’ needs. Daniel Realty and Investments excels at Residential Real Estate Sales in Saddleback Valley as well as Residential Multi Unit properties for investors. John’s primary goal is to maximize clients’ wealth through careful planning and strategic decision making. Contact John today to learn how he can help you.