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1st mariner mortgage payments 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 1st mariner mortgage years, everyone would be using the proposed credit. Connie Mack (search), a former Florida senator and chairman of the 1st mariner mortgage 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 1st mariner mortgage new tax benefit defraying the cost of housing. Taxpayers who bought $1 million homes expecting a generous tax break could be in for a shock, said 1st mariner mortgage Fratanponi, senior director of single family research and economics at the Mortgage Bankers Association. “Refinancing activity was strong in the third quarter, even with higher interest rates with 44 percent |
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