The improving economy, combined with recent tax increases and government spending cuts, is “tantamount to a loosening of the proverbial noose around the necks of Washington lawmakers,” as the official May 19 debt ceiling deadline approaches, writes Abby D. Phillip. The Treasury Department — which is also expecting a $66.4 billion repayment from Fannie Mae and Freddie Mac — could “employ some financial jujitsu” that could push the debt ceiling deadline back to as late as this fall, she says. With the deficit getting smaller already, Phillip thinks Republicans who are pushing for tax or entitlement reforms and spending cuts “may hit a wall when it comes to how much they can extract from Democrats.” Proposals to reform the tax code could include a revamp of a tax break near and dear to the hearts of Realtors and mortgage lenders alike — the mortgage interest deduction. Source: abcnews.go.com.
Survey finds it's often up to Realtors to clue millennials in to closing costs Airbnb hosts embracing automated valuations HomeZada is a powerful tool for homeowners -- and may help agents, too Nela Richardson: Inventory is the X-factor for real estate in 2015 JPMorgan buying $45B in mortgage servicing rights from Ocwen Michael Balsitis: 'We can't be afraid of rejection'