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Mortgage News for Monday - March 22, 2004

More Mortgage News
• Mortgage Giant Freddie a no-show on Fortune 500
• Closing Costs Remain Clear as HUD
• HUD pulls proposed rule over mortgage closing costs
• Take a bite out of mortgage closing costs
• U.S. mortgage bond prices unchanged to higher
• Bankruptcy boom eases in Indiana after record levels
• New home buyers paying more than $25,000 in fees
• Creative mortgages boost home sales
• Predatory mortgage lending: Who's watching your back?
• What's hot and what's not in housing
• Recognizing predatory mortgage lenders
• When done right, work-force housing benefits community
• On the move: Peterson is senior VP at HDR's capital office
• Endowment mortgage complaints 'cost £24m'
• Home office space an underused tax break
• New homeowners can get huge deductions on income taxes
• Greenspan Supports Homeowner Debt as Prices Increase
• Wal-Mart Tops Fortune 500 List Again
• Reverse Mortgage: A Last Resort?
• Phoenix Mortgage Defaults almost 1500 Per Month
• Mortgage Lending Pessimism Index at Five Year High
• Mortgage Lenders Ask Home Buyers To Waive Financial Privacy Rights
• April sentencing set in mortgage fraud cases
• SONYMA boosts home buying program
Mortgage News
Home office space an underused tax break - 2004-03-22
One of the most highly sought after tax deductions for a small business owner is for a home office. It's also an issue fraught with anxiety, because home office deductions have a reputation of being triggers for an IRS audit.

It's not just mortgage payments and utilities that qualify. So does the money you spend on improvements to your home, and on expenses such as insurance, pest control, snow plowing and your security system. Landscaping and gardening expenses, however, cannot be deducted.
Read the full story at San Bernardino County Sun
 
New homeowners can get huge deductions on income taxes - 2004-03-22
With April 15 less than a month away, many taxpayers are procrastinating in an attempt to avoid preparing their 2003 tax returns -- and paying their taxes -- until the last possible moment. But not David Moran.

As a result of the mortgage interest and property tax deductions, Moran will save $900 in taxes for the one month that he owned the house last year.
Read the full story at Sun-Sentinel
 






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