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Matt Joy
- Dec 27, 2017
- 2 min
Homeowners are using the final week of 2017 to prepay their taxes for next year; Why a pork and saue
Photo by Mike Tinnion on Unsplash Here’s a change-up for everyone… people are standing in lines to pay their taxes! Wait, what? The Wall Street Journal reported that taxpayers who live in counties where property values have risen (Fairfax County, VA; Montgomery County, MD; Norfolk County, MA to name a few) are lining up to prepay their property taxes and stay ahead of the new tax law that is set to kick in at the start of the new year. Before the Christmas Holiday, President
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Matt Joy
- Dec 13, 2017
- 1 min
Tax cuts and rate hikes with Powell in the wings… these are a few of my favorite things.
Photo by Jorge Alcala on Unsplash House and Senate negotiators are working on their first edits to the newly proposed tax legislation. Both sides have agreed (not officially) to limit the deduction for mortgage interest on loans to $750,000 or less, as compared to the $500,000 that the House’s original bill called for. Bloomberg has a nice article on the details here. This is a far cry from some game-changing negotiation, but it might soften the blow for the valued tax break.
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Matt Joy
- Dec 5, 2017
- 1 min
A close call for mortgage servicers and the importance of growing your realtor network
This past Friday, our friends in D.C. added a late fix to the Senate tax reform bill to help avoid some hefty tax hikes for mortgage servicers. The original tax reform bill called for mortgage servicers to pay taxes upfront on projected income they would have received over the life of a mortgage… yikes! That could have been a MAJOR shakeup for our entire industry. Larger correspondent lenders would have had to adjust their margins and pricing to account for the larger tax pay
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Matt Joy
- Nov 3, 2017
- 1 min
What are your thoughts on the GOP Tax Plan?
Yesterday, Republicans showed us what’s under the hood of their bill to overhaul the US tax code. Obviously, the biggest news for us was the legislation that caps the mortgage interest rate deductions. I read a good article this morning saying that home builders might feel it the most… but I’m not sure it’s going to scare away new home buyers. At least that’s what I think. What are your thoughts? #GOP #Taxes
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