HARP loans total one-third of Freddie Mac refinancings in 2Q
Property Affordable Refinancing Program loans totaled one-third of Freddie Mac's refinance fundings in the second quarter, sales cure the highest share since the system's inception. HARP enhancements resulted in further refinance volume in the course of the second quarter.
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HUD chief favors refinancing
What's obtainable now. The Home Inexpensive Refinance Program permits qualifying home owners with FHA loans who aren't behind on their payments to refinance their loans even if they are under water. For far more details, abortion pay a visit to …
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Dial 'M' for mortgage assist
Jay Dacey, a mortgage broker at Metropolitan Monetary Mortgage Co. in Minneapolis, recommends the Home Cost-effective Refinance Program (HARP) and the Federal Housing Administration (FHA) streamlined refinance loan, among other choices, for …
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Nina on Dobrev Ian Somerhalder, try “I will not pull a Miley”
Nina Dobrev will make it clear that it is not in a rush to the growing number of young starlets married earlier this year after rumors that she and boyfriend Ian Somerhalder are itching to join say, page “I do.” In fact, the “Vampire Diaries”; actress, 23 …
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Nina Dobrev takes a swipe at Miley Cyrus?
The Vampire Diaries star Nina Dobrev has always been very vocal, but in a recent interview with the Canadian fashion magazine, she may have a mean swipe at Miley Cyrus have taken. Married to the question of whether she was planning Ian Somerhalder and she said no …
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Question by Narilka: Is FHA mortgage insurance tax deductible?
Please note that I am not talking about private mortgage insurance; I am talking about mutual mortgage insurance provided by an FHA loan.
Best answer:
Answer by bostonianinmo
That is deductible. However you may only deduct the portion that applied to 2007 so you must pro-rate the premium. If it’s a 30 year mortgage, erectile divide the total premium by 360 and multiply that by the number of months remaining in the year from the closing date going forward. If the MIP deduction is extended into future years you’ll be able to deduct 12/360ths of the premium each year for as long as you hold the mortgage.
Also, ampoule you must have closed the loan in 2007 AND it must have been a purchase money mortgage, NOT a re-fi.
Know better? Leave your own answer in the comments!
