But for one class of investor, the mortgage pay-down is a clear winner.
And the choice I make is not asking middle-class families to give up their home mortgage deduction or tax credits they get for raising their kids just to pay for a tax cut for me.
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And this makes sense, because in general, the middle class are more dependent on things like mortgage interest and state and local tax deductions than their wealthy brethren, and the elimination of those deductions would have punished those taxpayers to a greater extent than they would have benefited from the 20% reduction in their tax rate.
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Do they think undoing rules that protect families from the worst practices of credit card companies and mortgage lenders will make the middle class stronger?
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Mentioning the mortgage deduction would alienate middle-class voters.
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If Pulte ever wanted to build middle-class houses, Su Casita would have to issue mortgage-backed bonds, as U.S. lenders do.
And upper-middle class taxpayers take advantage of breaks such as the mortgage interest deduction and subsidies for retirement and employer-sponsored health insurance.
Created by process of omission in 1913 and hyped up post WWII to make homeownership available to the middle class (when there was one), the mortgage interest deduction once made sense.
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He also claimed that the system of monthly repayments may be more beneficial to "middle class families" who "understood issues such as mortgage repayments" - a claim criticised by the Conservative MP Simon Kirby.
I'm not going to ask middle-class families to give up your deductions on a home mortgage, or your deductions for raising a kid, just to pay for another millionaire's tax cut.
The Labor Dept. has also argued in favor of overtime for mortgage-loan officers, another popular target for class-action lawyers.
The surge was accelerated by the financial crisis and mortgage meltdown, which put many lower-middle class families out of their homes, economists have said.
It would have been nice for him to counter the Tories' plans for middle-class tax breaks with an assault on such breaks, starting with mortgage-interest tax relief.
Never in history have so many middle class households been able to borrow so much against real estate at such low mortgage rates.
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The class was taught by an inmate, Eric, who was doing 3 years for mortgage fraud.
That Orange County mortgage broker (who used to be a pizza delivery guy) can take a class online from the University of Phoenix (APOL) and become a computer engineer in Silicon Valley.
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Other cases will seek to achieve class action status, and if even one succeeds then banks and defendants in the innumerable pending cases spawned by the mortgage market meltdown are likely to take it on the chin.
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