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not just 1st mortgage company people get now, but what they hope and dream they're going to have someday. I think a lot of taxpayers who would never have a mortgage above the (limits) sure hope they would.'' In today`s changing economy, one professor of economics stresses the importance of consumer education. Mortgages eligible for the tax break would be limited by a formula reflecting the average regional price of 1st mortgage company If in place today, that range would spread from $227,000 to $412,000. Mortgages for second homes and interest paid on home equity loans would not be eligible for the credit. Taxpayers who currently own homes 1st mortgage company have five years before they had to use the new credit. During that period of transition, a taxpayer could still take a deduction but the size of the mortgage eligible for a tax break would gradually fall. At the end of five years, everyone would be using the proposed credit. Connie Mack (search), a former Florida senator and chairman of the tax panel, said 1st mortgage company than 5 percent of mortgages in the nation exceed the proposed cap. "It cheap 1st mortgage company
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