The mortgage interest deduction is a huge benefit for homeowners of America, and create, on average, thousands of dollars in annual savings for middle-class family. It has come under fire recently from many groups that are looking for a way to pay for government debt. In short, millions of American families will increase significantly and tax barriers to buying a home will increase if MID were reduced or discontinued.
While the fighting will last for MIDs, Realtor organization will constantly engaged as a voice for homeowners who need financial gain, especially in a down economy.
Sam DeBord is the Realtor ® and Managing Broker with Coldwell Banker SeattleHome.com and Danforth. Research and writing focus on today’s market the Seattle waterfront home.