| |
Are you looking for certain inside info on
the present home equity loan rates
U.S. Homeowners Oppose Proposal To Replace Home Mortgage Interest Rates Deduction With 15% Tax Credit
Only six percent of homeowners said they favored the proposal. The remaining nine percent said they were undecided. In addition to replacing the home mortgage interest deduction - an important component of the U.S. tax code since 1913 - the Advisory Panel would eliminate deductions for state and local taxes, including property taxes; eliminate interest deductions for home equity loans and second homes; and eliminate the Low Income Housing Credit. "Our survey represents a random sampling of homeowners," said Michael Bearden, president and CEO of HouseHunt-Inc.com. "While not scientifically designed, we feel that our survey results accurately reflect homeowner sentiment." Bearden also pointed to a national survey conducted earlier by RT Strategies on behalf of the National Association of Home Builders. That survey found that 68% of respondents said they want to retain current homeowner deductions." In late October, the million-member National Association of Realtors launched an aggressive advertising and public relations campaign to convince members of Congress and the leadership of key congressional committees to oppose the Advisory Panel's recommendations. The real estate industry trade association predicts that home prices, particularly in high cost areas, could decline as much as 15% if the proposal is adopted. Eight members of the House Ways and Means Committee recently sent a letter to Treasury Secretary John Snow urging the Bush Administration to reject the Advisory Panel's proposal. One of the committee members, Rep. Jerry Weller (R-IL), said that a typical middle-class homeowner in his state would see a tax hike of $2,000-$2,500 under the proposal.
For additional information on HouseHunt, Inc., and the products and services it provides, please visit the HouseHunt-Inc.com corporate website.
About the author:
Monte Helme is a national public relations consultant with HouseHunt, Inc. Visit HouseHunt.com's real estate page to search homes for sale or find out what is your home worth at moveUP.com.
More Useful Resource and Updates on the present home equity loan rates
- Home loan woes set record again (The Charlotte Observer)
The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans with ballooning monthly payments. The Mortgage Bankers Association said Friday that more than 4 million American homeowners with a mortgage ? a record 9 percent ? were either behind on their payments or in foreclosure at the ...
- Home-loan troubles break record again (Seattle Times)
A record 9 percent of U.S. homeowners with a mortgage were either behind on payments or in foreclosure at the end of June. Washington state's troubled-loan rates remain low, although there are modest signs they are growing.
- Home owners have been cut some slack (Mudgee Guardian)
Mortgage holders in Mudgee are expecting to save about $50 per month on the cost of an average home loan after this week?s interest rate cut.
- Home foreclosures reach record high (Washington Post)
NEW YORK (Reuters) - Home foreclosures and the rate of homes entering foreclosure rose to record highs in the second quarter, the Mortgage Bankers Association said on Friday.
- Mortgage sites may conjure quotes, play up privacy fear (The Oklahoman)
LOS ANGELES ? Mortgage lenders have raised the bar on what it takes to qualify for a home loan the past couple of years, but shopping for a loan online has actually gotten a bit easier, if not necessarily less confusing. Where mortgage-scouting Web sites traditionally required users to enter a swath of personal information to generate rate estimates, the newest sites offer users a way to ...
- Mortgage Loan Rate | Home Mortgages | Refinance Loans - E-LOAN
Search Rates. Tools & Calculators. Mortgage Basics. Home. Equity. Apply For a Loan ... hours so we can void your present PowerCheck and send you a new PowerCheck. ...
- Home Equity Loan Rates
... home equity loan rates to obtain famine relief funds from the central government. ... Not-for-profit organizations present a statement of financial position, a ...
- Home Equity Loan Info
... rates for adjustable-rate loans go up, generally so does the monthly payment. ... 20 percent of the home's value be present as equity before issuing a loan. ...
- E*TRADE FINANCIAL - Mortgages & Home Equity
Annual interest rates may be slightly higher than comparable principal ... to the Home Equity Line of Credit or to the Home Equity loan rate is contingent ...
- FIXED RATE HOME EQUITY LOAN
The present loan ... the servicing of some of our loans while the loan is ... states, title insurance premium rates are established by the state ...
- Realty Times - Real Estate News and Advice
... home equity borrowers may already be in trouble, especially if their loan's rate ... prime rates, equity loan rates tied to the prime will likewise ...
- SELCO Community Credit Union, Home Equity Loan, Eugene, Springfield ...
Free checking and online banking, low rate loans, auto loans, credit cards, home equity loans, certificate of deposit, money market funds, planning tools, and ...
|
|
|
