Tag Archive for: mortgage interest

Buyer Was Furious: “When Is My First Mortgage Payment Due?”

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Buyer Was Furious Because Her First Payment WAs Due One Month Sooner Than She Thought! We had a buyer who was very upset because her first payment came due a […]Read More

Interest Expense Always Exceeds Tax Savings; Nobody “Needs” Write-off

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There is no doubt that renters experience a tremendous tax benefit or subsidy when they buy a house. This is b/c they can deduct all of the interest and property […]Read More

IRS Only Allows Deductions For Those Who Actually Pay

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We often have borrowers who are just co-signing or going on title, but they have no intention of making payments. These same borrowers also often want to “take the tax […]Read More

Accrued Interest on Mortgages – Arrears, Skipping Payments

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Interest on mortgages always accrues in arrears. This means your December 1st mortgage payment covers interest that accrued in November. In contrast, a December 1st car payment will cover interest […]Read More

Accrued Interest and Mortgage Payment Myths

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We had a seller recently who insisted on closing by month-end b/c he could “not afford another payment” on his mortgage. B/c we inherited the deal from another lender 7 […]Read More