I cannot express enough how important it is to not only the Real Estate Community, but moreover the Homeowner community, that we all need to contact our representatives and let them know that reducing or eliminating the Mortgage Interest Tax Deduction would be catastrophic for our industry and the home real estate market, as well as the homeowners.
There are many advantages of "Home Ownership", but one of the largest is the financial part. Many homeowners purchase to build equity (not recently of course), as well as to reduce their overall tax liability. Removing or reducing this incentive at any time, much less now will hurt our industry and the confidence that buyers have in purchasing.
This must be an action taken seriously and NOW!
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