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Where can I find information on the debt panel and the mortgage interest deduction?
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<blockquote data-quote="Toni" data-source="post: 2392303" data-attributes="member: 213834"><p>Is it for home mortgages over 500K only that it's being taken away.?</p><p>In the news on tv - they don't mention this 500K amount - time after time.</p><p></p><p>Is it only for mortgages over 500K?</p><p>Or did I just get a couple of bad websites?</p><p></p><p>The reason I ask, very few of the extremely wealthy carry heavy mortgages.</p><p>The Jumbo mortgages are much more expensive, and rich people tend to stay away from them.</p><p>(expect for movie actors, singers and sports players that tend not to be "sharp" with finances).</p><p>They just make sure they put big enough down payments so they don't have to do the jumbo.</p><p></p><p>If that is the case, this mortgage deduction plan is going to affect an extremely small part of the population.</p></blockquote><p></p>
[QUOTE="Toni, post: 2392303, member: 213834"] Is it for home mortgages over 500K only that it's being taken away.? In the news on tv - they don't mention this 500K amount - time after time. Is it only for mortgages over 500K? Or did I just get a couple of bad websites? The reason I ask, very few of the extremely wealthy carry heavy mortgages. The Jumbo mortgages are much more expensive, and rich people tend to stay away from them. (expect for movie actors, singers and sports players that tend not to be "sharp" with finances). They just make sure they put big enough down payments so they don't have to do the jumbo. If that is the case, this mortgage deduction plan is going to affect an extremely small part of the population. [/QUOTE]
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