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Game Changer, Wealth Creator & Innovator
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I find this hard to believe
Things are a changing
Mortgage market
Building wealth: Best moves if you're 25 to 34
Money magazine’s 101 Ways to Build Wealth package offers blueprints for the different stages of your life on how to achieve real financial security. In tips #1 through #27, we offer advice for 25- to 34-year-olds.
Blasts near Boston Marathon kill 2; injury toll rising
Blasts near the finish line of the Boston Marathon killed two people and injured more than 20 others Monday, Boston police said.
This is terrible and it looks like we almost need Superman to save us. Or can we save ourselves from ourselves! Come on America, let’s get it together.
Revised Mortgage Interest Deduction
How a Revised Mortgage Interest Deduction Could Boost Home ownership and the Economy
March 11, 2013
By Barry Habib
Chief Market Strategist for Residential Finance
Founder and CEO of MBS Highway
Don’t axe the home mortgage interest deduction. Change it.
As Congress continues to wrestle with how to trim spending, a hotly debated topic is the federal tax deduction for home mortgage interest. And it’s no wonder why, when you consider that the home interest deduction is estimated to cost the federal government $100 billion a year. As a reference point, the fiscal cliff fiasco and hike in tax rates, increased revenue to the government by $62 billion a year. And the highly publicized sequestration is about $85 billion in cuts.
This makes the mortgage deduction a juicy target for elimination ─ especially since legislators feel they will be shielded from lash backs from their constituents by the following surprising statistics:
- According to the IRS, only 26% of filers claim the mortgage interest deduction
- Only 39 % of homeowners claim the deduction
- More than one-third of homeowners own their home free and clear. Of the remaining homeowners who have a mortgage, only 58% claim the deduction
About Game Changer, Wealth Creator & Innovator
Joe is highly energetic and focuses that energy in his business endeavors. Joe also possesses a deep entrepreneurial drive and is always looking for new and innovative ways to diversify. He has a tremendous work ethic and always puts the needs of his clients first.
