Buzzword

Marketplace Staff Jan 18, 2008
HTML EMBED:
COPY

Buzzword

Marketplace Staff Jan 18, 2008
HTML EMBED:
COPY

TEXT OF STORY

Sincere apologies bring us this week’s Marketplace Money Buzzword: mortgage insurance deduction.

That’s a new tax refund for homeowners’ insurance payments — not to protect against floods; it’s because they couldn’t put 20 percent down, so they had to buy private mortgage insurance.

Homeowners who earn less than $100,000 can write off the entire amount and those that make $9,000 more can write off part of it.

OK, Congress. Except, maybe they forgot about those who earn more than $109,000 — they’re not eligible.

In that case, maybe Congress should say something else: Sorry!

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.