Last Chance to Deduct Private Mortgage Insurance #homeownership #finance #realestate

Source:  Credit.com

You can deduct private mortgage insurance paid during the 2016 tax year, but this will likely be the last time.
Homebuyers unable to make a down payment of at least 20 percent of their home's purchase are required to buy the insurance, also known as PMI.  It protects your lender in case you default on your loan.

PMI premiums have been deductible since 2007, but the tax break has expired.  For future tax years, Congress must renew it.

Check out the full story here:  http://finance.yahoo.com/news/last-chance-deduct-private-mortgage-100000830.html

---