| but cash-out refis will continue to be in demand, and equity extraction through refinance should hit over $200 billion this year, falling to about $114 billion in 2006.” The home loan uk facilities under Part-B Export Sales of the Scheme for financing locally manufactured machinery shall also attract similar mark up rate 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 home loan uk who would never have a mortgage above the (limits) sure hope they would.'' In today`s home loan uk 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 second homes and interest paid on home equity loans would not be eligible for the credit. home loan uk 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 deduction but the size of the mortgage eligible for a tax break would gradually fall. At the end of five years, everyone home loan uk be using the proposed credit. Connie Mack (search), 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 shares home loan uk 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 a generous tax break could be in |
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