Posts Tagged "2005."

Q&A: How much mortage interest can I deduct in my income tax return for the year 2005 in Texas?

on Nov 28, 2012 in Stated Income Loans | 2 comments

Question by nahuatl71: How much mortage interest can I deduct in my income tax return for the year 2005 in Texas? I am using turbo and I enter all my income paid for the mortgage loan, medicine but when it comes back it shows less than what I entered. So I wonder if the mortage interest paid is 100% or is it an average up to some amount. At the end of the process my return is the same as what it was last year but the difference is that last year I did not own a house. So I think my refun should be more. Best answer: Answer by TYSONBULLYDeduct all of your mortgage interest. You should have gotten a tax statement from your mortgage company, use that # Add your own answer in the comments! Q&A: How much mortage interest can I deduct in my income tax return for the year 2005 in...

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Q&A: my house was bought i 2005. my 5/1 arm expires oct.1 2010. the govt. refinance program(harp)?

on Sep 25, 2012 in HARP Refinance | Comments Off on Q&A: my house was bought i 2005. my 5/1 arm expires oct.1 2010. the govt. refinance program(harp)?

Question by vinny: my house was bought i 2005. my 5/1 arm expires oct.1 2010. the govt. refinance program(harp)? expires june 2010. does it mean that i have to rush and refinance before june 2010 even though 5/1 expires in october 2010, cheap (assuming that i may owe more than the value). what is the best thing to do? Best answer: Answer by The Mortgage BankerYou may also consider other programs as well through Fannie Mae and Freddie Mac. If you’re loan is currently with Fannie or Freddie there are options for you that allow a refinance of you’re home even if you owe more than it’s current market value. You can check to see if Fannie Mae or Freddie Mac own you’re mortgage by going directly to Fanniemae.com or Freddiemac.com and use the property look up tool. If it is owned by Fannie or Freddie get in touch with a good lender to see if they can help you refinance. Should you refinance now – YES. Why? Because interest rates will most likely not return to the current lows we are now experiencing for many years to come. And with all the goverment borrowing we can expect to see inflation hit the market in the future which will lead to higher interest rates. Please let me know if you have any questions. I am a California Lender. Add your own answer in the comments! Q&A: my house was bought i 2005. my 5/1 arm expires oct.1 2010. the govt. refinance...

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