HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Obama Proposes Reduction to Mortgage Interest Deduction
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Obama Proposes Reduction to Mortgage Interest Deduction
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Obama Proposes Reduction to Mortgage Interest Deduction

February 15, 2011 (Chris Moore)
MORTGAGE-DONT-TREAD-IMAGE
One of President Obama’s Deficit Reduction Commission’s recommendations appears to have hit home. Normally considered to be a “sacred cow” and expected to be furiously fought by the housing and building industry, the President has proposed a reduction in the mortgage interest deduction for high income taxpayers in his 2012 budget.

The proposed budget would reduce by 30 percent the amount that high earners can save on their federal tax bill by claiming itemized deductions, such as for mortgage interest, charitable giving and state and local taxes. Such taxpayers would see their tax savings limited to 28 percent of their itemized deductions, down from 39.6 percent currently.

The rule change would apply to couples with annual incomes of $250,000 or more, or single taxpayers with incomes of $200,000 and above.

Currently, interest on a mortgage taken out to buy or improve a home can be fully deducted if the amount of the loan is less than $1 million for married couples and $500,000 for singles. Home equity loans taken out for anything else is limited to $100,000 for couples and $50,000 for singles.

Advocates of the housing and building industry including the National Association of Realtors (NAR), the National Association of Home Builders (NAHB), and the Mortgage Bankers Association (MBA) have all previously attacked the Deficit Reduction Commission’s proposal when it was released last December.

“The tax deductibility of interest paid on mortgages is a powerful incentive for homeownership and has been one of the simplest provisions in the federal tax code for more than 80 years,” said NAR President Ron Phipps at the time.

The proposal also faces an uncertain future in Congress, which rejected a similar proposal last year, when Democrats had the majority.

Under the proposal, a high-earning couple with a $500,000 mortgage at a 5.5 percent interest rate would see their taxes increased by about $2,900 a year, assuming roughly $25,000 in interest paid. Such a family can currently save up to $9,800 with a 39.6 percent deduction, falling to about $6,900 with a 28 percent limit.

Tags: mortgage interest deduction, high income taxpayers, mortgage interest, itemizaed deductions, nar, nahb, mba, deficit reduction commission

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

February 15, 2011 (Chris Moore)
MORTGAGE-DONT-TREAD-IMAGE
One of President Obama’s Deficit Reduction Commission’s recommendations appears to have hit home. Normally considered to be a “sacred cow” and expected to be furiously fought by the housing and building industry, the President has proposed a reduction in the mortgage interest deduction for high income taxpayers in his 2012 budget.

The proposed budget would reduce by 30 percent the amount that high earners can save on their federal tax bill by claiming itemized deductions, such as for mortgage interest, charitable giving and state and local taxes. Such taxpayers would see their tax savings limited to 28 percent of their itemized deductions, down from 39.6 percent currently.

The rule change would apply to couples with annual incomes of $250,000 or more, or single taxpayers with incomes of $200,000 and above.

Currently, interest on a mortgage taken out to buy or improve a home can be fully deducted if the amount of the loan is less than $1 million for married couples and $500,000 for singles. Home equity loans taken out for anything else is limited to $100,000 for couples and $50,000 for singles.

Advocates of the housing and building industry including the National Association of Realtors (NAR), the National Association of Home Builders (NAHB), and the Mortgage Bankers Association (MBA) have all previously attacked the Deficit Reduction Commission’s proposal when it was released last December.

“The tax deductibility of interest paid on mortgages is a powerful incentive for homeownership and has been one of the simplest provisions in the federal tax code for more than 80 years,” said NAR President Ron Phipps at the time.

The proposal also faces an uncertain future in Congress, which rejected a similar proposal last year, when Democrats had the majority.

Under the proposal, a high-earning couple with a $500,000 mortgage at a 5.5 percent interest rate would see their taxes increased by about $2,900 a year, assuming roughly $25,000 in interest paid. Such a family can currently save up to $9,800 with a 39.6 percent deduction, falling to about $6,900 with a 28 percent limit.

Tags: mortgage interest deduction, high income taxpayers, mortgage interest, itemizaed deductions, nar, nahb, mba, deficit reduction commission

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

February 15, 2011 (Chris Moore)
MORTGAGE-DONT-TREAD-IMAGE
One of President Obama’s Deficit Reduction Commission’s recommendations appears to have hit home. Normally considered to be a “sacred cow” and expected to be furiously fought by the housing and building industry, the President has proposed a reduction in the mortgage interest deduction for high income taxpayers in his 2012 budget.

The proposed budget would reduce by 30 percent the amount that high earners can save on their federal tax bill by claiming itemized deductions, such as for mortgage interest, charitable giving and state and local taxes. Such taxpayers would see their tax savings limited to 28 percent of their itemized deductions, down from 39.6 percent currently.

The rule change would apply to couples with annual incomes of $250,000 or more, or single taxpayers with incomes of $200,000 and above.

Currently, interest on a mortgage taken out to buy or improve a home can be fully deducted if the amount of the loan is less than $1 million for married couples and $500,000 for singles. Home equity loans taken out for anything else is limited to $100,000 for couples and $50,000 for singles.

Advocates of the housing and building industry including the National Association of Realtors (NAR), the National Association of Home Builders (NAHB), and the Mortgage Bankers Association (MBA) have all previously attacked the Deficit Reduction Commission’s proposal when it was released last December.

“The tax deductibility of interest paid on mortgages is a powerful incentive for homeownership and has been one of the simplest provisions in the federal tax code for more than 80 years,” said NAR President Ron Phipps at the time.

The proposal also faces an uncertain future in Congress, which rejected a similar proposal last year, when Democrats had the majority.

Under the proposal, a high-earning couple with a $500,000 mortgage at a 5.5 percent interest rate would see their taxes increased by about $2,900 a year, assuming roughly $25,000 in interest paid. Such a family can currently save up to $9,800 with a 39.6 percent deduction, falling to about $6,900 with a 28 percent limit.

Tags: mortgage interest deduction, high income taxpayers, mortgage interest, itemizaed deductions, nar, nahb, mba, deficit reduction commission

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS