[Remember_Salamis]

The FairTax will most likely have a provision that the NRST on a primary home can be paid over the life of the mortgage, similar to how property taxes are paid.

Where is that in the bill?

-- It's in the CATO Institute version of the plan.

[ancient_geezer]

-- It's in the CATO Institute version of the plan.

Provisions to allow NRST financing in mortgage debt have also been included in the most recent version of the Fair Tax Act:

H.R.25

Fair Tax Act of 2003 (Introduced in House)
http://thomas.loc.gov/cgi-bin/query/z?c108:H.R.25:

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`CHAPTER 2--CREDITS; REFUNDS

`SEC. 205. BAD DEBT CREDIT.

Assures lending institutions are made whole in regards NRST with mortgage defaults, providing the protections needed by lenders for extending coverage of tax as well as the principal in a mortgage.

The NRST credit converts the default property back to a business use status eligible for sale or rental with collection of NRST.