I guess I was asleep when Congress made Mortgage Insurance tax deductible at the end of 2006….
January 3, 2007
but I just found out that they have finally made Private Mortgage Insurance better known as PMI or MI tax deductible for all home loans originated in 2007 and beyond. This will have a profound effect on how mortgages are written. No longer will you have to get a piggyback or second loan on that home purchase when you are putting less than 20% down at the time of purchase.
It’s estimated that hundreds of thousands of homeowners will save a total of $91 million when they file their tax returns in 2008 according to statistics cited in the following article from Bankrate.com. Check it out it’s a good read. If you are currently paying mortgage insurance on an old loan you don’t qualify for this new deduction but if you decide to refinance this year or make a new purchase….we’ll let’s just say you now have some options…
Tax deduction makes mortgage insurance more competitive with piggybacks
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but you unfortunately find yourself in a quandry because the current cellular carrier that you use…You know the one that is always dropping your calls and has more dead zones than you care to think about requires you to pay $200 or more to cancel your service. There are several new companies on the web that can potentially help you shed that cell phone company that you loathe and start fresh with a new service that may allow you to make more than one call without suffering the dropsies…. This article from the Globe highlites some of the pros and cons of these sites and also mentions why the big cell carriers charge the early termination fees. Believe it or not, they actually have a legitimate reason based on their costs as it pertains to acquiring a client like yourself. The article is a good read. Please provide any helpful feedback if you like this post or you try out the service….
Celltrade is the first of a few sites that can help get Out with the Old and in with the New!
Sites help free cellphone users from contracts – The Boston Globe
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