Congress has just approved a mortgage insurance tax deduction which will allow homeowners in middle and low incomes to reduce their tax burden. Private mortgage insurance is paid by borrowers who finance 80% or more of their home purchase. The primary requirements of this deduction are to have an adjusted gross income of $100,000 or less (Some benefit is available for incomes up to $110,000) and the mortgage insurance policy must be written in 2007. Ask you CPA for additional information. Tips and helpful homeowner strategies are available by subscribing to
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