Ilyce Glink's Blog

Welcome to Ilyce Glink's blog! Here you'll find Ilyce's latest insights on personal finance advice, real estate advice and consumer issues. Come back often for timely and interesting posts on a wide variety of topics.

Thursday, December 20, 2007

Congress Votes to Extend Mortgage Insurance Tax Deduction

Ilyce is hosting the Clark Howard Show today on WSB Radio. Here's some more information about the mortgage insurance tax deduction mentioned on air.

American homeowners earning $100,000 or less who pay government or private mortgage insurance premiums may continue to take tax deductions. Homeowners who earn more than $109,000 may take a partial deduction. Congress yesterday extended the deduction through 2010. The average consumer may save as much as $350 according to the Mortgage Insurance Companies of America (MICA), a trade association representing private mortgage insurers.

Labels: Home, House, insurance, Mortgage, pmi, Tax, tax deduction