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How the New Tax Law May Affect Your Mortgage

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Description ​At the end of 2017, President Trump signed into law the Tax Cuts and Jobs Act. The good news for most Americans was an overall production and marginal tax, together with a substantial increase in the standard deduction. Specifically, the law increased the standard deduction for single taxpayers from $6,350 to $12,000 and for married couples, from $12,700 to $24,000.However, it also restricted taxpayers' ability to deduct home mortgage interest, moving expenses, state and local taxes and [...]
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Submission Date Sep 8, 2018
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