This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Real Estate's Fiscal Cliff: 5 Items To Watch Out For

The IRS allows homeowners who pay mortgage insurance in connection with a home acquisition to deduct the premiums from their taxes along with their mortgage interest payments. In order to be tax-deductible, the mortgage insurance contract must have been issued after 2006.

For complete details about taxes and mortgage insurance, check IRS Publication 936.

No. 4: Operation Twist. The Federal Reserve's Operation Twist is scheduled to come to a close at the end of the year. Operation Twist is a money-recycling program in which the Fed has bought longer-term Treasury bonds while selling shorter-term bonds in order to hold down rates.

While it sounds technical, the program is essentially an effort is to lower long-term interest rates, including mortgage rates.

No. 5: Independent foreclosure reviews. Originally slated to end on July 31, consumers now have until the end of this year to submit a request for a foreclosure review at To request a foreclosure review, you must log on and first check your eligibility. You must be a customer of one of the participating servicers. If you are, your next steps are to fill out and submit a “Request for Review Complaint Form.” Forms must be sent online or postmarked before Dec. 31. For general questions or for help completing the form, call 1-877-465-0428.

The five items above aren't the only issues threatening the real estate market as we come to the turn of the year. A nearly insolvent FHA and a still-undetermined definition of what a “Qualified Residential Mortgage” should be are bound to also have a profound influence on the mortgage market moving forward. receives compensation from lenders when readers choose to request mortgage quotes. This article is provided by an external partner that is solely responsible for the content.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.04 -0.62%
FB $118.08 0.02%
GOOG $699.54 0.55%
TSLA $214.32 -3.70%
YHOO $37.07 3.00%


Chart of I:DJI
DOW 17,692.42 +41.16 0.23%
S&P 500 2,054.58 +3.46 0.17%
NASDAQ 4,733.4520 +7.8130 0.17%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs