New Tax Breaks for 2007 mark an important change in the way we approach high LTV loan amounts. Private Mortgage Insurance (PMI) is now tax deductible. In the recent past, combining a first and second together to avoid PMI often made good sense. The rate on the second was higher, but the tax deduction from that interest offset the higher rate. Now Brokers will need to sharpen their pencils to look at how this new tax law changes the equation.
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Useful article about Private Mortgage Insurance and you have very informative blog on Mortgage, thank you for sharing your information.
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