Posts with tag mortgage interest deduction

By Credit.com The fiscal cliff draws closer by the day, and federal lawmakers are now trying desperately to reach an agreement that is at least somewhat palatable to both parties. Now, those negotiations might include a number of costly tax breaks designed to help consumers who owe more on their home loans than their... Continue Reading »

The impending fiscal cliff is causing lawmakers to consider many tough decisions and make every kind of consideration for getting the government back on budget. That has led to the proposed slashing of a popular tax break that helps homeowners save thousands every year. The tax deduction that allows homeowners to write... Continue Reading »

During the arduous and acrimonious debate over the fiscal cliff, one potential part of the solution that has come up often is the elimination of the mortgage interest tax break. And while many lawmakers treat it as a sacred cow, it turns out the majority of consumers don't take advantage of it. The average deduction taken... Continue Reading »

By Jennifer Liberto Washington should stay away from touching the mortgage interest tax deduction, warns the U.S. housing industry. Lately, housing is on the mend and one of the few bright spots in a lumbering economic recovery. Taking away a key tax break could throw a wrench into homebuying plans and hurt a... Continue Reading »

By Stephen Fishman There are several tax credits and deductions set to expire at the end of the year, and given the federal deficit problem, there's a good chance they won't be extended. If you want to take advantage of them, you need to act before Jan. 1, 2012. Mortgage Insurance Premium Deduction If you itemize... Continue Reading »