Month: February 2021

15-year Mortgage

When Refinancing, Should You Opt for a 15-year Mortgage?

Before the pandemic, 15-year mortgages were simply too expensive for many homeowners seeking to refinance. Popular instead was the 30-year fixed-rate loan, which typically comes with a more affordable monthly payment.  But now the tide seems to be turning, with 15-year mortgages accounting for 17 percent of home loan applications this past September, up from 10.2 percent a year earlier,

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Skipped Mortgage Payments in 2020?

If you are one of the millions of Americans who received forbearance and were allowed to pause your monthly mortgage payments during the past year, that could have implications when it comes time to file your taxes this year and in the years to come. Exactly how will forbearance affect your ability to deduct the interest? Individuals typically use what’s

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Tax Advantages of Owning a Home

As you prepare to file your 2020 taxes, you might be asking yourself what the perks of owning a home are. Well, while the revised Tax Cuts and Jobs Act of 2018 remains in effect, the pandemic has changed the scene somewhat. The IRS has delayed filing season by about two weeks, for example, meaning it won’t begin accepting or

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