As you’re probably aware, the current discussions in Washington, D.C., regarding the “fiscal cliff” involve the possible elimination of many itemized deductions, including the Mortgage Interest Deduction. Eliminating this 100-year commitment to housing could have a severe negative impact, especially at this critical time in the U.S. housing recovery.
The National Association of Realtors has launched a strategic campaign to inform lawmakers about the importance of the Mortgage Interest Deduction. NAR is buying ads in legislative publications and coordinating a Call for Action among its Realtor members.
At RE/MAX, we support this effort, and agree that legislators need to understand the potential negative impact of eliminating the deduction.
I encourage you to contact your Congressional Representatives or Senators before the end of the year to let them know how you feel about this critical issue.
A healthy housing market is essential to a healthy economy. This is not the time to adopt changes that could slow the momentum of the recovery. Make your voice heard.