A federal tax deduction granted for interest paid on a mortgage used to buy, build, or renovate a residence. The deduction is intended to encourage renters to become homeowners, under the belief that home ownership encourages upstanding citizenship and reduces crime.
Related information about mortgage interest deduction:
- Home mortgage interest deduction - Wikipedia, the free encyclopedia
A home mortgage interest deduction allows taxpayers who own their homes to reduce their taxable income by the amount of interest paid on the loan which is ...
- Mortgage-interest deduction could be on the table in 'fiscal cliff ...
1 day ago ... The outcome of that debate could have profound long-term effects on homeowners across the country — and particularly those in the ...
- Save My Mortgage Interest Deduction
SaveMyMortgageInterestDeduction.com is dedicated to preserving the mortgage interest deduction and protecting homeownership. Please join us in this ...
- Limitations on the Home Mortgage Interest Deduction
The amount of the home mortgage interest tax deduction may be limited. Learn about the limits for home acquisition debt and home equity debt. Plus, special ...
- Mortgage Interest Deduction Definition | Investopedia
A common itemized deduction that allows homeowners to deduct the interest they pay on any loan used to build, purchase or make improvements upon their ...
- Mortgage tax deduction calculator
Bankrate.com provides a FREE mortgage tax deduction calculator and other mortgage interest calculators to help consumers figure out how much interest is tax ...
- Mortgage Interest Deduction, Once a Sacred Cow, Is Under Scrutiny ...
4 days ago ... As President Obama and Congress scrape for ways to raise tax revenue without hurting middle-income families or pushing up rates, the ...
- Capping Mortgage Interest Deduction Could Have “Chilling Effect ...
2 days ago ... From the blog Daily Ticker: Mitt Romney may have lost the election, but his idea to cap deductions has won some support in Washington D.C., ...