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a shock, said Michael Fratanponi, senior director of single family research and federal home loan bank of indianapolis at the Mortgage Bankers Association. ``That's going to really bite,'' he said. Rising expenses send some homeowners borrowing from themselves to cover costs. But are borrowers burrowing in over their heads? Mortgage broker Teresa Simmons says the rising popularity of the second mortgage stems from customers clinging to rates they locked in when they capitalized on their first federal home loan bank of indianapolis "The second mortgage product is probably going to become more active in the marketplace because people aren`t going to be so willing to give up those fives, nor should they be, to get additional federal home loan bank of indianapolis and access the equity in their home," Simmons says. "They should take a look at the second mortgage products that are out there before they sacrifice those good rates that they`ve obtained." Nine tax experts, tasked with developing simpler and fairer tax laws, concluded that the deduction does more for wealthier taxpayers than federal home loan bank of indianapolis people struggling to buy a home. But mortgage bankers and real estate agents see irreparas chief economist. "Everyone, whether you use the mortgage interest deduction or not, the value goes down. You've just reduced the retirement nest egg for everyone." The current tax break lets homeowners deduct federal home loan bank of indianapolis paid during the year on a mortgage up to $1 million and a home equity loan worth up to $100,000. Homeowners also benefit from breaks that


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