What exactly is an ARM? There isn’t any kind of interest rate known as a LEG, at least not as far as I’m aware, but an ARM is an adjustable-rate mortgage. Especially lately, rising interest rates added to increasing home prices are causing the affordability factor of owning a home to be quite the issue […]
In 1913, the 16th amendment allowed personal income tax and one of the allowable deductions was mortgage interest paid on your principal residence. A follow up in 2017, Tax Cut and Jobs Act reduced the maximum amount of acquisition debt to $750,000 from $1,000,000. Acquisition debt is the amount of debt used to buy, build […]
