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Law would make mortgage insurance deductible (access required)

Mortgage insurance expenses will be tax-deductible next year if President George W. Bush signs a law that Congress passed just before adjourning for the year. Homebuyers who don’t make a 20 percent down payment must buy mortgage insurance or take out a tax-deductible second mortgage to avoid buying the insurance. These “piggyback” second mortgages usually carry ...

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