Modifying the popular deduction wouldn’t actually affect a majority of homeowners — but industry leaders are adamant that the MID is untouchable
Allied Home Mortgage Corp. and Allied Home Mortgage Capital, along with their CEO, have been slapped with multimillion-dollar penalties after a jury found them responsible for more than a decade of mortgage insurance fraud
A mortgage that allows for the possibility of negative amortization usually attracts buyers through the fact that they include the option of making lower payments – sometimes when desired. Whenever a payment is made that is less than the amount of interest due for the month, the interest becomes added to the principal – which will ultimately raise the amount of interest each month. This causes negative amortization.