New Tax Deduction for mortgage insurance
May 16, 2007
A new law makes Private Mortgage Insurace payments deductible for loans that originated in 2007. This will eliminate the need for those borrowers who can’t put 20% down to obtain a second piggy back loan. To claim the deduction you will need to itemize and have a HH income of less than $110,000. Contact your CPA to learn more.
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