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Mortgage Insurance Premiums and Tax Deductiblity Through 2013

Tax Form

This falls into the "Good to Know" category of life: Mortgage Insurance Premiums are Tax Deductible Through 2013 If you bought a home or vacation home and didn't put 20% of the purchase price down as down payment, the odds are good that you are paying mortgage insurance (MI). It may have been … [Read more...]

Buying A Home: How To Choose A Mortgage Loan

Man With Moving Boxes

No, I DON'T want fries with that! You don’t want your loan office for your mortgage to be an “order taker”.  You want someone who can do more than fill out the forms. You want someone that knows what can be done to fit your special circumstances. You want someone that knows the loan programs … [Read more...]

Freddie Mac 30 Year Rate Histories

30 year rate history

These charts of 30 year mortgage loan rate histories (Freddie Mac rates) were provided by a local lender and are used with permission. It is very interesting to see how low rates really are right now, especially in relation to the past. The lower price of homes coupled with the low interest rates … [Read more...]

Foreclosure Numbers | A bit of a surprise

iStock House Foreclosure Sign

Foreclosure numbers--A Comparison We often hear the numbers and think how bad it is. What if you look at the opposite side?  How bad is it? There are approximately 61,800,000 homeowners in the US One third, that’s 33%, of US homeowners own their homes free and clear—that’s right, no … [Read more...]

The Inventory Of Foreclosed Properties Has Begun To Shrink…

US Map of Delinquent Mortgages

This is a great explanation and graphic concerning the states that are most impacted by seriously delinquent mortgages.1 Tie this to the concept that the "normal level" of distressed housing inventory is under 5% (REALTOR® Magazine January/February 2012 "Clean Slate") one can see that there are … [Read more...]

Fast Facts!

Did You Know? Homeowners may deduct mortgage interest and property taxes as an expense against income.  You may be able to deduct mortgage interest on a second home, second mortgages, home equity loans, and HELOCS. You can cancel PMI when your home equity hits 20%, even though your lender isn’t … [Read more...]

I’ve Been Thinking…About the Recent “Foreclosure Fraud” News

I've been thinking about "Foreclosure Fraud" on the part of lenders... There has been a great deal of talk in the news lately about what appears to be "Foreclosure Fraud".There is chatter all over the news about  some employees in some financial institutions that have stated that they signed … [Read more...]

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