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Mortgage Interest Deduction

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Sam Site Admin Joined: 21 May 2005 Posts: 281 Location: CALIFORNIA 117.49 Dollars($)	Posted: Wed Jun 30, 2004 4:31 am    Post subject: Mortgage Interest Deduction Mortgage Interest Deduction is a federal tax reduction to borrowers. This tax reduction is given for an interest paid on the home mortgage. Features of mortgage interest deduction: Federal Tax Deduction - It is a federal tax deduction by the government. It allows a borrower to subtract the interest expenses made on a home mortgage from his/her income, before calculating income tax. Tax break - It is a tax break for borrowers who pay mortgage interest on their homes. Creates incentives - It creates incentives, for those who want to become home owners or want to buy more housing.

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