Tax Refund Check Helps With Mortgage Decisions During 2007 Tax Season Says LoanPage.com

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The 2007 tax season has arrived. Millions of Americans have filed their returns and are already deciding how they will spend their income tax refunds. According to financial experts, a number of Americans will put their income tax return towards mortgage-related finances like closing costs. LoanPage.com is a complete source of mortgage tools that can help consumers make the best mortgage-related financial decisions this tax season.

The 2007 tax season is in progress, and the IRS reports that as of March 16th--one month before the official 2007 tax deadline-- 67,703,000 people had filed returns; 55,186,000 of them had already received their refunds. According to financial trends, many Americans will apply their income tax check towards housing and mortgage-related expenses. As Americans decide where their refund will go, LoanPage.com offers a variety of mortgage loan resources that can help homeowners make smart financial decisions this tax season (http://www.loanpage.com/).

Refinancing a mortgage, paying off debt to increase a credit rating and making an extra mortgage payment are among the most popular ways to spend an income tax refund. Homeowners interested in using their refund for mortgage refinancing closing costs can find detailed information, articles and search tools regarding mortgage refinancing on LoanPage.com (http://www.loanpage.com/advSearch/morstate.asp?loan-type=REFI).

LoanPage.com visitors can get competing mortgage loan company quotes by entering their desired loan type, location and property type. LoanPage.com also includes other mortgage loan tools:

  •     Mortgage calculator
  •     Closing costs calculator
  •     Interest-only loan calculator
  •     Mortgage glossary
  •     Mortgage Q & A

According to the IRS, over $139 billion was refunded to American tax payers as of March 2007, one month before the 2007 filing deadline. The average income tax refund for the 2007 filing season was $2,524 as of March 2007. The Financial Planning Association reports many of these taxpayers will use their refunds to make an extra mortgage payment or to pay off high-interest debt in hope of improving their credit score. CNN.com reports responses from Americans sharing how they plan to spend their refund. Jan Jackson from Toledo, Ohio wrote: "I'm planning to pay off a home equity loan…"

According to H&R Block tax experts, using refund money to contribute to mortgage-related financial decisions can also save taxpayers money in years to come. "As you plan your year-end tax moves, be sure you're up to date with your payments on mortgage and home-equity loans that carry deductible interest. You may be able to beef up your home-mortgage deduction by making your December payment before year-end, even if it's not due until the following January."

LoanPage.com is a complete source of mortgage loan tools and resources, including calculators and a mortgage glossary. Visitors can find answers to the most common loan questions, download a loan application or find lenders in their area.

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