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Proposed Elimination of the Mortgage Interest deduction The home loan mortgage deduction is the last major tax deduction left for a most middle income tax payers. If it was eliminated only the very wealthy would be able to shelter their income. Be that as it may be this move would eliminate a major incentive to buy a home but more important eliminate the reason and in many cases the ability to keep a home.This proposed tax change by dramatically increasing the cost of owning a home could lead to massive numbers of people walking away from their currently under water homes … (2 comments)
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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