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How to Use Form 1098 to Claim Tax Deductions on Your Mortgage Refinance

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  How to Use Form 1098 to Claim Tax Deductions on Your Mortgage Refinance Believe it or not, tax season is already here. And if you are looking for possible deductions on your federal income taxes, there are plenty of reasons to read on. If you completed a  mortgage refinance  in 2020, you may be realizing the benefits of lower payments and possibly a lower rate. But if you’ve recently bought your first home, did you know that you may be able to claim tax deductions because of the mortgage itself? That’s because in many cases, the interest you pay on your mortgage is tax deductible. But that  might not  be the only way you can save on your taxes if you own your home. There are several deductions you can claim on your tax return based on your mortgage. But where do you find the information you’ll need to claim those deductions? Read on. Can mortgage payments be tax deductible? The short answer is yes and no. If you have a mortgage, then you’re likely paying some ...
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Using Your Tax Refund? Avoid This Credit Score Mistake - Paying Off Debt Can Lower Your Credit Score

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  https://www.youtube.com/shorts/WHG0xk788Hs Using your tax refund to pay off debt might seem like the smartest move—but it can actually hurt your credit score if you’re not careful. In this tip, I explain how paying off debt the wrong way can lower your credit score and impact your ability to buy a home. If you’re planning to purchase a house or improve your credit, understanding how different types of debt affect your score is key. You’ll learn: • When paying off debt helps your credit score • How closing accounts can negatively impact your credit These simple insights can make a big difference when it comes to qualifying for a mortgage and getting better loan options. If you’re thinking about buying a home or want guidance on your next steps, connect with me to get personalized advice. Like and follow for more practical tips on home buying, credit, and smart financial decisions. Tammie VanDeusen Your lender from your first house to your last. From the mountains to the mesas. (71...
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Number of Homes on Market Drops Again to Another New Low

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  Number of Homes on Market Drops Again to Another New Low Back in December, the number of homes on the market  fell  to a new low. Unfortunately, things only got worse in January. According to a new report from realtor.com, the number of homes for sale in January fell to below 600,000 for the first time since the real estate website began tracking the data in 2012. The report showed that the number of active listings in January was down 42.6% from last year, meaning there were more than 440,000 additional homes on the market in January 2020. As realtor.com notes, the decline is the result of fewer homeowners listing their homes for sale and the available inventory selling fast. According to the report, there were 23.2% fewer homes listed for sale in January 2021 than they were in the same month in 2020. Overall housing inventory in the nation’s 50 largest metro areas was down 41.8% in January compared to the previous year. Combine that with the fact that the typical home...
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