| taxes, too. If consolidation department education loan 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 second homes and interest paid on home equity loans would not be consolidation department education loan for the credit. Taxpayers who currently own homes would have five years before they had to use the new credit. During that period of transition, a taxpayer could still take a consolidation department education loan 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, a former Florida senator and chairman of the tax panel, said less than 5 percent of mortgages in the nation exceed the proposed cap. ``It is a fair plan. It consolidation department education loan the benefits,'' he said. For homeowners with a small mortgage who don't itemize |
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