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A "New" Form Of Mortgage Insurance That Gives Tax Deductions To Everyone

Posted on February 27, 2008
Filed under Mortgage Insurance
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Lpmi_vs_bpmi_2

Private Mortgage Insurance (PMI) came back in vogue in 2007 for a number of reasons, the most widely-known of which was that PMI was suddenly tax-deductible.

But it came with a catch.  Only families earning less than $100,000 could take the full tax deduction.  For everyone else, PMI was same as it ever was.

Quietly, though, a less-well-known mortgage option called "Lender-Paid Mortgage Insurance" is emerging as a popular PMI alternative.

Lender-Paid MI is winning hearts for two major reasons:

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