Congress Makes PMI Tax Deductible: Millions of Borrowers Will Benefit
publication date: Jan 7, 2009
The federal government's Private Mortgage Insurance legislation is great news for the Real Estate Industry! Enacted on January 1st, 2007, the bill makes Private Mortgage Insurance (PMI) tax deductible for new borrowers whose personal adjusted gross income is $100,000 or less.For millions of home buyers, the bill creates an amazing opportunity to finance a more expensive home or potentially obtain a lower payment for the same-priced home, while reducing annual income taxes by hundreds of dollars.
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