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the actual evidence of the debt and promise to repay To protect the lender, a mortgage is recorded in debt consolidation loan home owner uni public records creating a lien (when there are multiple liens, order of recording determines priority). Since mortgage debt is often the largest debt owed by the debtor, banks and other mortgage lenders run title searches of the debt consolidation loan home owner uni property to make certain that the lien of the mortgage is prior to anyone else's claim. Tax liens, in some cases, will come ahead of mortgages. For this reason, if a borrower has delinquent property taxes, the bank will often pay them to prevent the lienholder from debt consolidation loan home owner uni and wiping out the mortgage. A recent report from the federal reserve indicates a sharp rise in housing values in the past decade. They say that rise has led to a buildup in mortgage debt. Greg McBride, senior financial debt consolidation loan home owner uni at Bankrate.com, said the proposed credit won't help homeowners in regions of the country, like New York and California, where housing prices have skyrocketed. ``It seems to ignore the plight of a first-time buyer in an expensive market,'' he said. Because the panel would convert the deduction to a credit, taxpayers who pay income tax at marginal rates over 15 percent will see their debt consolidation loan home owner uni shrink. Almost 36 million taxpayers claimed the deduction in 2003, according to the most recent statistics compiled by the Internal Revenue Service. The President's Advisory Panel on Federal Tax Reform urged the administration to do away with the deduction and replace it with a credit worth 15 percent of interest paid debt consolidation loan home owner uni the year. They would scrap the deduction for property taxes, too. If enacted, mortgages eligible for the tax break would be limited by a formula reflecting the average regional price of housing. If in place today, that range would spread from $227,000 to debt consolidation loan home owner uni Mortgages for second

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