Homeowners refinance their mortgages for several reasons, including pulling out home equity, or to save money with a lower interest rate.
The Fair Tax Bill was first introduced in July 1999 and was re-introduced in early 2003 by U.S. Representative John Linder. The Bill repeals all federal personal income taxes, corporate income taxes, payroll taxes, self-employment taxes, capital gains taxes, gift taxes and estate taxes. In place of the repealed taxes, there would be a 23% national retail sales tax on all retail sales of new goods and services. Let us explore some of the elements of the Fair Tax Bill.
While it is advisable to put a 20% down payment for a home purchase, you should calculate the best use of your money if you have more than 20% to put down. You may find you get a better return if the money were invested, rather than reducing your mortgage loan.