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this case you would have to continue to amortize the remaining points over the life of the new loan, together with any points paid on the new refinance. Taxpayers who bought $1 million homes expecting a generous tax break could be colorado mortgage calculator for a shock, said Michael Fratanponi, senior director of single family research and economics 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 colorado mortgage calculator burrowing in over their heads? Mortgage broker Teresa colorado mortgage calculator says the rising popularity of the second mortgage stems from customers clinging to rates they locked in when they capitalized on their first mortgages. "The second mortgage product is probably going to become more active in the marketplace because people aren`t going to be so willing colorado mortgage calculator give up those fives, nor should they be, to get additional money 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 colorado mortgage calculator 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 for 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 interest paid colorado mortgage calculator the year on a mortgage up to $1 million and a home equity loan