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"M.D." <delanuel@bellsouth.net> wrote in message
news:V%4ag.48918$MM6.1690@bignews3.bellsouth.net...
> Rainmaker - you mention that "There is NO chance that Congress/IRS will
> ever allow mortgage insurance to be tax-deductable." Can you please
> explain why so that I can understand? Thanks :-)
>
>
There is no chance that PMI will be tax deductable because it is an
insurance policy against default. If they allowed this insurance, then why
not allow health insurance or car insurance. Insurance is a cost of life,
that is why it has no tax advantage. Mortgages are also a fact of life, but
we need people to own homes, we do not need them to have insurance. The
people may need insurance, but there is no benefit to the rest of us if you
have insurance, there is only benefit to the policy holder. .
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Re: Newbie Guide of The Day: Piggyback loan VS. PMI
