| 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 com credit en equity home language line site the proposed credit. Connie Mack (search), a former Florida senator and chairman com credit en equity home language line site the tax panel, said less than 5 percent of mortgages in the nation exceed the proposed cap. "It is a fair plan. It shares the benefits," he said. For homeowners with a small mortgage who don't itemize their deductions, the credit means a new tax benefit defraying the cost of housing. Taxpayers who bought $1 million homes expecting com credit en equity home language line site generous tax break could be in for a shock, said Michael Fratanponi, senior director of single family research and economics at the Mortgage com credit en equity home language line site Association. “Refinancing activity was strong in the third quarter, even with higher interest rates with 44 percent of new mortgage applications being submitted for refis,” said Amy Crews Cutts, Freddie In the third quarter of |
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