Colorado Springs Real Estate

Colorado Springs Real Estate Blog

PMI tax deduction will help homeowners in Colorado Springs

Posted on May 2, 2008 by Patricia

You are probably paying Private Mortgage insurance (PMI) if you put less than 20% down on your home purchase; PMI protects your lender in the case buyers default on their loan.In addition to the initiation of the Mortgage Forgiveness Debt Relief Act of 2007, President Bush extended the PMI tax deduction through 2010.  Homeowners are eligible for the full deduction if their loan was originated no earlier than December 31, 2006 and if their adjusted gross income is $100,000 or less. Speak with a CPA if you have inquiries about the PMI deduction on your tax return.

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About Patricia

As a Colorado Native, I am here to assist you with all of your real estate needs. If you are planning on selling or buying real estate in Colorado Springs, I will provide you with the information you need to understand the real estate process and guide you through the transaction until closing. If you would like more information or have additional questions about Colorado Springs real estate, please contact me. Feel free to review testimonials on my website.
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