A “New” Form of Mortgage Insurance Gives Tax Deductions
February 26, 2008
Private Mortgage Insurance (PMI) came back in vogue in 2007 for a number of reasons, the most widely-known of which was that PMI was suddenly tax-deductible.
But it came with a catch. Only families earning less than $100,000 could take the full tax deduction. For everyone else, PMI was same as it ever was.
Quietly, though, a less-well-known mortgage option called “Lender-Paid Mortgage Insurance” is emerging as a popular PMI alternative….
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