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facilities under Part-B Export Sales of the Scheme for financing locally manufactured machinery shall also attract similar mark up consolidation debt financing mortgage refinance structure, however other instructions on the subject will remain unchanged. ``It also has a piece of American dream about it,'' he said. ``It's not just what 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.'' consolidation debt financing mortgage refinance 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 housing. If in place today, that range would spread from $227,000 to $412,000. Mortgages for consolidation debt financing mortgage refinance homes and interest paid on home equity loans would not be eligible for the credit. Taxpayers who currently own homes would have five years before consolidation debt financing mortgage refinance 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 consolidation debt financing mortgage refinance 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 consolidation debt financing mortgage refinance million homes expecting a generous tax break could be in for a shock, said Michael Fratanponi, senior director of single family research and consolidation debt financing mortgage refinance at the Mortgage Bankers 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