What does this mean? Your home financing comes from tax-exempt mortgage revenue bonds.? - mortgage bonds
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Saturday, January 9, 2010
Mortgage Bonds What Does This Mean? Your Home Financing Comes From Tax-exempt Mortgage Revenue Bonds.?
1 comment:
Some municipalities in order to obtain mortgages - typically for low-income residents of certain municipal employees such as teachers and aid workers - floating the bond issue to raise money to lend. The mortgage payments are then used to repay bondholders. Since the bonds are state and local government sales, interest on bonds are generally free from federal taxes on income.
If the mortgage was financed in this way will tell us in the mortgage market documents.
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