Welcome back, Dreammakers, to Today in Mortgages! In this episode, hosts Michael and Richard talk about credit downgrades and tax reforms. Over the weekend, the market dipped because of investor confidence. This new tax reform bill is going to cost $4.6 trillion, so Moody dropped the rating.Ultimately, we need to control our debt and deficit, because the country spend's more than it brings in. Today's article from NAR says "First draft of tax reform bill [is] "very positive" for real estate." There's a lot of spending in this first draft, but there are also a lot of improvements for our industry. Two protections: state and local taxes is tripling the amount you can deduct, and also increased mortgage interest deductions. Two wins for our industry, but this is just a draft and not the final bill. Listen in as we discuss this and more!______Grow Your Business: https://join.nflp.com/______Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.See more at TodayInMortgages.comWant to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here. Learn more about Network Funding on our parent site. Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

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