Congress approved a bill Saturday, Dec. 9, to make mortgage insurance premiums tax-deductible. The bill, awaiting a final signature, is effective for the 2007 tax year on loans closed on or after Jan. 1, 2007. Mortgage insurance premiums will be 100% deductible for households whose adjusted gross income is $100,000 or less.
Adding mortgage insurance when financing your home simplifies the mortgage process and increases your buying power. Mortgage insurance also allows you to more easily
tap into your homes equity as well as refinancing easier.
Click Here for more information on mortgage insurance (MI), refinancing, and mortgage industry news.
Monday, May 28, 2007
Did you know mortgage insurance is now tax-deductible?
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