If you are following the news that is beginning to leak out about President Obama's budget proposal you may be aware of a small section of the budget plan that may affect all homeowners, or potential homeowners. As the plan is currently drafted the plan changes the Mortgage Interest Deduction by reducing the amount of mortgage deductibility on families earning over $250,000. This begins to chip away at the most substantial deduction most taxpayers have, and could conceivably lead to further erosion of home values. Expressing your opinion directly to representatives in Congress might be a worthwhile few minutes of your time.
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So, you ask, why now? What makes 2009 different than 2008? What has changed? Why should I invest in a home?
Interest rates are at ALL TIME lows. NEVER have we seen 30 year fixed mortgages obtainable in the low 4% range. With our without continued government assistance, these are truly remarkable interest rates.
Lenders are protecting buyers. No longer are lenders relying on the borrower to tell them what they can afford. Lenders are qualifying buyers based on facts, and putting them into mortgages they can afford, now and for the future. If you are qualified, we have loans and money available.
As David Bach (Noted financial guru and author of multiple books on creating personal wealth)