Realtors across the country are being asked to communicate with their respective Congressional leaders about the importance of protecting the Mortgage Interest Deduction (MID). Our housing industry has been badly hit over the last few years, and does not need another hurdle to overcome.
Congress is once again making noises about reducing or doing away with the MID, and it is up to Realtors and homeowners, and yes future homeowners to get in touch with their leaders and say "leave our MID alone".
Economic recovery in the housing market is slow at this time, and a hit on our mortgage interest deductibility would just further devastate this industry. It is my belief that our economic recovery depends largely on recovery in the housing market. That recovery is by no means complete and, in fact, the market is still quite weak.
The National Association of Realtors endorses House Resolution 25, a bipartisan resolution offered by Representative Gary Miller of California. This resolution expresses the sense of Congress that the current law governing the MID must be retained. To restrict current law in any way would undermine progress in the still fragile housing recovery
Please ask your representatives to Congress to support this resolution.
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