Piggyback loan or private mortgage

Piggyback loan or private mortgage insurance? Buyers may be asking you this year whether they'd be better off with a piggyback loan or a single, non-conforming loan backed by private mortgage insurance. Since Congress has made payments on mortgage insurance policies taken out in 2007 tax deductible for those earning $100,000 or less (and partially deductible for those making up to $109,000), the answer may depend on a homebuyer's finances and the loan terms they qualify for.

Here's a couple of resources to bookmark for future reference:

--A new Web site created by mortgage insurers that helps consumers answer questions based on their financial situation and compare piggyback loans to private mortgage insurance.

--A Q&A published by the Mortgage Bankers Association on how to claim the deduction.
--Matt Carter, Inman News

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