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Cash sales hit new high

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Mortgage Professional America | 12 May 2014, 06:26 AM Agree 0
All-cash sales reached a new high in the first quarter even as the share of institutional investor purchases sank to its lowest level since 2012
  • Wm Matz | | 12 May 2014, 11:29 AM Agree 0
    For primary residences and 2d homes, there is a tax trap lurking for unwary all-cash buyers. Buyers who later decide that they need cash and refi will be shocked when they visit their CPA [or IRS] and learn that most or even all of their mortgage interest is not tax deductible, as deductibility is primarily determined by "acquisition indebtedness".
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