Advertisement
HomeCollectionsMortgage Interest
IN THE NEWS

Mortgage Interest

FEATURED ARTICLES
NEWS
By Doyle McManus | February 6, 2013
Would you support a tax reform measure that could help reduce the federal deficit, remove a needless distortion in the economy and make the system fairer? Me too, which is why I'm taking aim at a sacred cow: the home interest mortgage deduction. That's right, the mortgage interest deduction that every homeowner, including me, loves. If you listen to home builders and real estate agents, they'll tell you that the mortgage interest deduction is what makes homeownership possible for millions of Americans.
ARTICLES BY DATE
NEWS
By Robert B. Reich | October 22, 2013
First came the drama over the government shutdown. Then the showdown over the debt ceiling. Now another round of negotiations on the budget deficit. Pardon me for asking, but when exactly will Washington begin to deal with the crisis of jobs, wages and widening inequality? Job growth is slowing perilously. The Labor Department reported today that only 148,000 jobs were created in September - way down from the average of 207,000 new jobs a month in the first quarter of the year.
Advertisement
BUSINESS
By Kenneth R. Harney | December 14, 1997
THE INTERNAL Revenue Service is throwing cold water on the hottest mortgage product of 1997: the so-called "125 percent loan-to-value" (125 LTV) financing that provides homeowners with more cash than their homes are worth.In its first public comments directed at the "125 LTV" loan boom, the IRS this month warned homeowners that deducting mortgage interest on loan amounts exceeding the fair market value of their homes is prohibited. In an interview, Assistant IRS Commissioner for Examinations Thomas G. Smith urged homeowners "to exercise caution" when they load debt on their homes far beyond market value.
NEWS
Susan Reimer | September 23, 2013
If you like paint-by-numbers, the data just released by the Bureau of Labor Statistics and the U.S. Census create a picture of the United States that is not inspiring. We spend the biggest part of our day - 9 hours and 12 minutes - commuting and working and the other big chunk - 7 hours and 39 minutes - sleeping. Data from the Bureau of Labor Statistics show we spend 6 minutes or less on education and talking to people on the phone. We spend three hours on "leisure," and almost all of that is watching TV. We spend proportionally more on housing now (41 percent of our income)
NEWS
March 4, 2012
Gov.Martin O'Malley's effort to cut back on tax loopholes is a necessary step to reduce the state's income tax, and eliminating the mortgage interest income tax deduction is a good place to start ("Realtors to rally against proposed change affecting Md. mortgage interest deduction," Feb 28). While supporters of the deduction say it is an incentive to homeownership and crucial to maintain the housing market, the deduction has done very little to increase homeownership rates and is an unnecessary government subsidy of the housing market.
BUSINESS
By Scott Pendleton and Scott Pendleton,The Christian Science Monitor | October 27, 1991
AUSTIN, Texas -- Mortgage interest rates, which have been dropping steadily, are likely to remain stable for the next few months, economists say.The core rate of inflation, which is the consumer price index excluding volatile food and energy prices, is dropping toward 4 percent, says Norman Fieleke, an economist with the Federal Reserve Bank of Boston."
NEWS
December 20, 2010
The editors of the Baltimore Sun used extremely poor judgment in featuring a speculative article on the future of home ownership tax deductions as page one news in the December 20th edition ( "Mortgage deduction's future questioned" . The article was obviously meant for financial pages, and to feature it as a "news story" is a disservice to the many folks who depend on the housing industry and its few remaining perks such as the ability to deduct...
NEWS
By Michael Dresser, The Baltimore Sun | February 29, 2012
Hundreds of Maryland Realtors rallied Wednesday in a driving rain in Annapolis to protest Gov. Martin O'Malley's proposal to phase out the mortgage interest deduction -- along with other tax breaks -- as part of his budget plan. Gathering cheers from the crowd was the governor's chief Democratic nemesis, Comptroller Peter Franchot. Using rhetoric that could easily have come from a conservative Republican, Franchot denounced the proposed deduction phase-out. "This mortgage interest deduction proposal would be a deadly blow to these small businesses and families," the comptroller said.
BUSINESS
By Steve Kerch and Steve Kerch,Chicago Tribune | November 18, 1990
CHICAGO -- The downturn in the housing market, with new home starts at their lowest level since 1981 and resales flat in many parts of the country, has curtailed demand for first mortgages on those homes and sent lenders' business tumbling.But one bright spot on the mortgage horizon could be home equity loans, both full second mortgages and equity lines of credit, which lenders say are as popular as ever."Even though volume of first mortgage loans is off 20 to 30 percent, second mortgage production has not fallen off," said Todd Hempstead, assistant director of negotiated transactionsfor the Federal National Mortgage Association, known as Fannie Mae."
BUSINESS
By KENNETH HARNEY | February 6, 2005
IT'S FEDERAL tax reform season at the White House, with a new presidential commission hard at work drafting a potentially radical streamlining of the Internal Revenue code by midyear. But President Bush has pulled some of the biggest tax system goodies off the reform table. Tops on the list of untouchables are the extensive benefits that American homeowners receive annually in the form of deductions from their federal income tax filings. How big are those benefits? Very. Congress' bipartisan Joint Committee on Taxation recently toted them up and found that homeowners will receive more than $116 billion in direct tax subsidies this year.
NEWS
February 17, 2013
I'm not a shill for the Obama administration, but I must disagree with reporter David Lauter's analysis of the president's State of the Union Address ("In singular speech, a split approach to power," Feb.13). Mr. Lauter writes that early in his first term, President Barack Obama "appeared to believe that he could sway the country, including members of the opposition, by delivering a carefully crafted speech. " My public policy and advocacy work promoting economic security for low-income communities, families and individuals leads me to a different conclusion.
NEWS
By Doyle McManus | February 6, 2013
Would you support a tax reform measure that could help reduce the federal deficit, remove a needless distortion in the economy and make the system fairer? Me too, which is why I'm taking aim at a sacred cow: the home interest mortgage deduction. That's right, the mortgage interest deduction that every homeowner, including me, loves. If you listen to home builders and real estate agents, they'll tell you that the mortgage interest deduction is what makes homeownership possible for millions of Americans.
BUSINESS
By Steve Kilar and The Baltimore Sun | October 26, 2012
Omega Healthcare Investors Inc., the real estate investment trust based in Hunt Valley that invests in long-term health care facilities, earned $30.1 million during the third quarter of the year, the firm said in a statement Friday. Omega's third quarter 2012 earnings were 40.5 percent higher than earnings in same period last year, the company said. The firm's funds from operations, a figure often used to determine a real estate investment trust's health, increased 27.5 percent over the July through September period last year, the statement said.
NEWS
March 18, 2012
Disinclined as we may be to pity the plight of those making more than $500,000 a year, the state Senate, in its attempt to raise more revenue from such top earners, has gone too far. The Senate has adopted a plan that appears to be unique among the 50 states and would violate a cardinal rule of income tax policy, which is that a dollar earned should not cost more than a dollar in taxes. When the House of Delegates takes up the budget, it will have some work to do to clean this mess up. Gov.Martin O'Malleyproposed what remains the most sensible plan for raising new revenue through the income tax. Rather than changing the rates, his plan was to phase out some exemptions and deductions for the top 20 percent of Maryland earners.
NEWS
March 4, 2012
Gov.Martin O'Malley's effort to cut back on tax loopholes is a necessary step to reduce the state's income tax, and eliminating the mortgage interest income tax deduction is a good place to start ("Realtors to rally against proposed change affecting Md. mortgage interest deduction," Feb 28). While supporters of the deduction say it is an incentive to homeownership and crucial to maintain the housing market, the deduction has done very little to increase homeownership rates and is an unnecessary government subsidy of the housing market.
NEWS
By Michael Dresser, The Baltimore Sun | February 29, 2012
Hundreds of Maryland Realtors rallied Wednesday in a driving rain in Annapolis to protest Gov. Martin O'Malley's proposal to phase out the mortgage interest deduction -- along with other tax breaks -- as part of his budget plan. Gathering cheers from the crowd was the governor's chief Democratic nemesis, Comptroller Peter Franchot. Using rhetoric that could easily have come from a conservative Republican, Franchot denounced the proposed deduction phase-out. "This mortgage interest deduction proposal would be a deadly blow to these small businesses and families," the comptroller said.
BUSINESS
By KENNETH HARNEY | May 6, 2001
IF YOU'RE like millions of American homeowners and new buyers, you filed your federal tax returns a couple of weeks ago and are glad to be done with it. As part of the process, you probably took advantage of some of the highly favorable provisions in the federal tax code that offer you special breaks simply because you bought, own or sold a home - mortgage interest deductions, property tax write-offs, capital gains exclusions. Tax breaks like these are so hard-wired into the American housing system - and so connected with the country's current record-high homeownership rate - that hardly anybody even asks: How much money is involved here?
BUSINESS
By James M. Woodard and James M. Woodard,Copley News Service | January 24, 1993
A slow but steady improvement in the real estate market this year is expected by most industry professionals.The reasons for their optimism could translate into good news for home buyers and sellers -- reasons like lower home prices, continued low mortgage interest rates, renewed consumer confidence and a new crop of mortgage loan plans that make home financing more achievable.Similar projections are expressed in the annual National Real Estate Review, a report on market conditions prepared by the National Association of Realtors.
NEWS
By Larry Carson, The Baltimore Sun | March 10, 2011
Prospects for rising income tax revenues are improving for Howard County, an economist told the county panel that will recommend spending and borrowing decisions for the next county budget, though dangers of a renewed decline remain potent. "For the next two years, off a low base of incomes, this county looks pretty good, we think," economist Anirban Basu told the county Spending Affordability Committee on Wednesday morning at the George Howard Building. "That doesn't mean the county should go on a spending frenzy … but things will be less worse.
NEWS
December 20, 2010
The editors of the Baltimore Sun used extremely poor judgment in featuring a speculative article on the future of home ownership tax deductions as page one news in the December 20th edition ( "Mortgage deduction's future questioned" . The article was obviously meant for financial pages, and to feature it as a "news story" is a disservice to the many folks who depend on the housing industry and its few remaining perks such as the ability to deduct...
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.