Mortgage Interest Deduction Limit and Income Phaseout
According to the IRS, the maximum mortgage amount you can claim interest on is $ 1,000,000 on first or second homes if the loan was taken after Oct 13, 1987. You can also deduct interest on $ 100,000 for a second mortgage loan used for anything other the …
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Mortgage Payoff? Freedom vs the Math
Financial planner Diahann Lassus views as misguided the “obsession” some baby boomers have with paying off their mortgage before they retire. But Jane Rose, who has done just that with the loan on her home in Cherry Hill, New Jersey, has discovered how …
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Will mortgage rates fall in 2016?
Fixed-rate 30-year prime mortgages were priced at 3.87 percent at the end of 2014 and 3.96 percent in December 2015. There’s $ 3.6 trillion invested worldwide with negative interest and $ 2 trillion in excess capital flooding the U.S. banking system.
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How mortgage rates are set
It’s easy to say that mortgage rates are “affected by economic factors,” or more specifically “bond yields” or “the Bank of Canada”, but are you really getting an understanding with those answers? If so, you may understand economics better …
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What To Do When You Pay Your Mortgage Off
A new article from The Network Journal has provided some information regarding one of the most important milestones you will have as a homeowner – paying off your mortgage. However, after hitting this important step, there may still be issues ahead, one …
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