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