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Taxes
If you are considering a home equity loan for any reason, there are pros and cons to using these loans. One of the advantages of a home equity loan secured by your residence is the interest you pay can be a tax deduction for your. Second mortgages and home equity lines of credit are a [...]
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Did you refinance your mortgage loan last year? If so, don’t forget to deduct any points you prepaid for interest on your 2005 tax return. The points you pay are pre-paid interest; you pay up front to receive a lower interest rate. The good news for you is these points are a deduction on your [...]
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The interest you pay on your Home Equity Loan may be tax deductible. If you are legally responsible for the mortgage and the loan is secured by your home this interest can be an itemized deduction for you. There are three requirements to claim the mortgage interest deduction. The first requirement is that you (the [...]
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Today President Bush gave up on the notion of changing the tax laws to eliminate your mortgage interest tax deduction. At a conference in Florida today a homeowner asked the President to ensure housing would remain affordable in the United States. The President stated the mortgage interest tax deduction would remain as part of the [...]
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As a homeowner paying interest on a mortgage you are eligible to deduct the interest you pay each year from your Federal income taxes. In order to get the maximum mortgage interest tax deduction you need to understand the rules. Mortgage interest that you pay on your primary and secondary home is generally deductible. Mortgage [...]
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My name is Robert Regehr and I’m a personal finance blogger with a chip on my shoulder for banks and mortgage brokers that take advantage of my friends and neighbors.
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