dakota equity home loan south

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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 dakota equity home loan south be eligible 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 deduction but the size dakota equity home loan south 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 (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 the benefits," he said. For dakota equity home loan south 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 for a shock, dakota equity home loan south Michael Fratanponi, senior director of single family research and