Thursday, August 15, 2013

Policy Update: Mortgage Deduction, Fannie and Freddie could disappear

I know below is a rather long article that I had to put in at it's original size for readability.

Yet as a Realtor, I know that many may not be aware that these topics:  Mortgage Deduction and Closing Fannie and Freddie, are still on the table.

With the coming budget discussions, they could be buried in the "Close down the Gov't" or "Set a budget" showdown coming up.  I would hope our representatives in both houses would be reasonable but present past doesn't give much hope.

Elimination of one or all there of these entities/deductions would directly impact the value of your home or the home you would plan to purchase.

Imagine a world with no deduction for your mortgage insurance and very possible higher mortgage rates.   It will be costly.

So don't let this slide by you as a "government savings".  Since when is something called "savings" when it cost more to do??

Be patient today and read this article

Then ACT!!

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