A “New” Form of Mortgage Insurance Gives Tax Deductions

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…. 

Cobb County Homestead Exemptions Due March 1

Homeowners have until March 1 to apply for a homestead exemption for this tax year and may apply for homestead exemptions by mail. Applications must be received or U.S. postmarked (a metered postmark is not accepted as proof of timely mailing) by March 1 to receive the benefit of the exemption for that year.

Homeowners must apply for all exemptions for which they are eligible; thereafter, exemptions are automatically renewed each year unless there is a change in ownership or eligibility requirements are no longer met. It is not necessary to reapply if the home has been refinanced.

The applicant’s name must appear on the deed and they must occupy the property by January 1 of the taxable year in order to qualify. Most new property owners will receive an application by mail at the first of the year.

Application forms and information are available at the city's Web site, mariettaga.gov, or by calling 770-794-5680.

Cobb County homestead exemption information is available at cobbtax.org or 770-528-8600.