As the lawmakers gather on Capitol Hill this year they are considering tax laws that could affect real estate. Charitable contributions involving real estate, interest on home equity loans and short-term vacation home rental are being explored for changes.
Considering so many loans today include a first mortgage and a second of a home equity loans (to avoid the costs of PMI), this is something that can have a huge effect on many home purchasers.
For more information…go here.
Denver real estate and relocation
About the Author
Kristal Kraft
Kristal has been helping buyers and sellers in Colorado since 1984. She enjoys sharing her knowledge of the Metro Denver Real Estate market via blogging and in person while driving around the beautiful Rocky Mountain town of Denver! For fun, Kristal enjoys shooting things with a Canon. Visit Denver Photo Blog
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Kristal Kraft
One Comment
Limiting the exclusion for short term vacation home rental might not make any difference.
I know that there are vacation home owners who are renting out their vacation homes for cash and are not reporting it. In many locations, zoning ordinances prevent renting out vacation homes, but owners are forced to do it because they are headed for foreclosure. The homes are not selling, but they are easily rented out.
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