Laura Kusisto
speaker
689 appearances
14 recordings
1 series
first heard Jul 2017
last heard Nov 2023
Laura Kusisto’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Why the Mortgage Interest Tax Deduction Isn't Untouchable · 17 Oct 2017
podcast
They're one of the most powerful lobbying groups in Washington.
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They spend more money than anybody but the Chamber of Commerce.
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No one really wants to take them on.
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But this is sort of a clever backdoor way of taking on the mortgage interest deduction that we've never really seen.
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So maybe it will work.
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It definitely remains to be seen.
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Yes, exactly.
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And that's what is going to make this, by the standards of tax reform, a very interesting fight.
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Yeah, thanks so much.
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The two changes that are going to get people a little bit riled up are, one, that for most people, premiums are going to go up.
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When you first take out a reverse mortgage right now, you either pay 0.5% or 2.5% on the total amount that you're taking out, or could take out.
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Most people pay the 0.5%, and that's going to go up to 2%.
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The upfront cost of taking out these mortgages is going to go up by quite a lot.
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The annual premium is going to go down by a little bit, but I think that most experts think that this is going to act as a real disincentive for a lot of people to take out these mortgages.
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And the second is you're going to also be able to borrow less, which is also likely to make these mortgages look less appealing to people.
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So, for most people, the amount that you're going to be able to borrow against your home is probably going to go down a modest amount, but certainly by about $5,000, $10,000, depending on the value of your house.
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Just new mortgages.
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This is very important.
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The Trump administration did not want little grandmas out there to have a heart attack thinking that their premiums are going to go up.
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Showing 561–580 of 689 · page 29 of 35
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