This is only for those that are paying mortgage insurance?

Sign up, and you can make all message times appear in your timezone. Sign up

Report problem with this ad

Feb 12, 2018
11:31:17am

Sandy Lyle All-American

This is only for those that are paying mortgage insurance?

Report problem with this ad

Sandy Lyle

Previous username: salvajejn
Bio page: Sandy Lyle
Joined: Sep 7, 2007
Last login: Apr 23, 2024
Total posts: 7,446 (27 FO)

Report problem with this ad

Messages

Author

Time

PSA: If you have already filed your tax return and you itemized your deductions

Chester Copperpot

2/12/18 11:02am

Did the phase outs change?

RexIdaCoug

2/12/18 11:07am

Not that I saw.

Chester Copperpot

2/12/18 11:29am

I just felt 25% of my hair instantly turn grey.

buhlcougar

2/12/18 11:09am

So if I didn’t have mortgage insurance, I’m good?

rainorsnow

2/12/18 11:10am

No, you need to find out how much your neighbor paid for their mortgage insurance and amend using that figure.

Pimpin4Paradise

2/12/18 11:16am

I’ll do that, thanks!

rainorsnow

2/12/18 11:21am

Yes.

Chester Copperpot

2/12/18 11:31am

Thanks. I’ll actually need to amend. I did pay last year. MIP didn’t fall off

rainorsnow

2/12/18 11:39am

Is it still Line 13 on Schedule A?

rainorsnow

2/12/18 11:51am

I think so, but not sure on that.

Chester Copperpot

2/13/18 2:48pm

This was the Post of the (tax) Year!

cucciolo25

2/12/18 11:16am

Now, if I did my taxes on paper forms and mailed them in, how do I fix this?

cucciolo25

2/12/18 11:18am

File your 1040X on paper and they'll process it. You can file it anytime.

Chester Copperpot

2/12/18 11:29am

Thank you!

2/12/18 11:24am

What about when a filing joint return?

HuskerFan2

2/12/18 11:26am

It's the same. Depending on if you itemize and you paid mortgage insurance

Chester Copperpot

2/12/18 11:31am

Fortunately (and unfortunately) I've been held hostage by E*Trade so I haven't filed yet.

HuskerFan2

2/12/18 11:33am

This is only for those that are paying mortgage insurance?

Sandy Lyle

2/12/18 11:31am

Yes, only if you paid mortgage insurance premiums.

Chester Copperpot

2/12/18 11:31am

Just say no to PMI. What a waste of money.

2/12/18 11:36am

AMEN. It was the only way we could get into a great situation.

cucciolo25

2/12/18 11:54am

I hear ya. It's just worth prioritizing getting to 20% equity to get rid of it.

2/12/18 12:29pm

So unfortunately that didn't work. We did prioritize and got to 20% a couple

cucciolo25

2/12/18 12:52pm

That sounds illegal. What I've read says that lenders are required to remove PMI

2/12/18 1:22pm

More links:

2/12/18 1:28pm

OK, I'm mixed my facts up a bit...but you've still helped me.

cucciolo25

2/12/18 2:01pm

We had to pay for an appraisal but it was worth it to save the PMI. that was 30

scott715

2/12/18 2:37pm

Wait, people actually pay for that PMI crap? Why throw money away?

ArchbishopMitty

2/12/18 6:53pm

Because you don't have the 20% down payment.

scott715

2/12/18 9:20pm

That's what I don't understand, why buy a home you can't afford and lose more $$

ArchbishopMitty

2/13/18 2:43pm

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad