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.
Dec. 20, 2007.
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