Mortgage Updates

As with current real estate pricing the vacation housing market has also slowed.  This could be a primary buying opportunity.  Mortgage rates are excellent especially since vacation home mortgages (2nd homes) are treated as owner occupant.  Of course, you will need to qualify with both housing payments- that's the catch.  But, if that works for you, you will find that "Uncle Sam" will allow the tax man to carry most of the payments for you -in the sense of tax deductability.  With two homes you have twice the write off.

(Contact your tax advisor for exact details... this is not considered to be "tax advise".) Saturday, June 23, 2007