Mortgage deduction in cross hairs

Real Estate Agent with - Action Realty Group

This mornings Dallas Morning News had a big below the fold headline - "Mortgage deduction in cross hairs".  How in the world are they still thinking about eliminating this important facet of home ownership???  It seems that every time we turn around there is a new story out there that pours cold water on the housing market!  There are many many ways to lower the deficit without taking away this valuable benefit of home ownership!  In fact taking away this benefit will hurt the housing market in many ways and cause more of an economic slowdown!  What are they thinking in DC???  I've been an avid reader of blogs here on Active rain an have yet to see anyone talking about this - is it because most feel that this couldn't/wouldn't happen?  Is it because we are so worn out from the recent political season and have lost the fight spirit??? 

People we have to get on the horn and contact our representatives and make sure they know that messing with the Mortgage interest deduction is un acceptable! 

Contact your rep this week!!!

Comments (9)

Broker Nick
South Florida Real Estate & Development, Inc. - Coconut Creek, FL
Broker Nick Relocation Broker Service

Congratulations this post is now featured in the Silent Majority Group of Active Rain.

Dec 01, 2010 11:10 AM
Bill Burress
Success with Burress Realtor Partnering - Kenwood, OH

Crazy.  The mortgage tax credit is one of the few things the communists in Congress haven't taken away yet.  It will be interesting to see if the GOP goes along with it. 

Dec 01, 2010 12:15 PM
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

Reading in the newspaper today, it sounds like Congress heard from a lot of people yesterday when this news broke.  Apparently they are backing off the idea. 

Dec 02, 2010 02:46 AM
Brian & Marie Spray - Action Realty Group - Frisco, TX
Frisco TX Realtors

Thanks guys!  Rob - I hope you're right about them backing off but with politicians it aint over till its over if you know what I mean!  Only this morning have I started hearing others talk about this issue - there even is a post featured on Active Rains front page.  I got a "call to action" from NAR late yesterday - I've already contacted my reps - I've got them on Facebook too!  We all should keep our reps close by so we know what they're up to!!!

Dec 02, 2010 03:07 AM
Mike Saunders
Retired - Athens, GA

Brian - this has been talked about and blogged about here for weeks. Back in early Nov. I wrote about it and was accused of being a chicken little. I don't expect it to go through, not without some major changes to the tax code.

Dec 02, 2010 05:04 AM
Brian & Marie Spray - Action Realty Group - Frisco, TX
Frisco TX Realtors

Mike - you were definitely ahead of the curve!  I need to pay more attention to what you write!!!!

Dec 02, 2010 07:46 AM
Mike Saunders
Retired - Athens, GA

Brian - it wasn't just me, there have been multiple featured posts about it, but most in the last 10 days or so. But yeah, I agree, you need to read more of my stuff ;^)

Dec 02, 2010 11:03 AM
Crystal Wolverton
Commerce Title Company - Dallas, TX

Brian - I know I am a little late in seeing your blog, but so great that you posted this!

Being involved in politics takes more than just casting a vote once or twice a year. Getting the word out, being involved in government affairs, calling your local rep and supporting TREPAC are just some of the ways we can get involved.


Dec 17, 2010 05:18 AM
Stephanie Stringer
First Choice Loan Services NMLS#210764 - San Antonio, TX
Mortgage Loan Originator
Brian- I'm am not a fan of what crap is going on in Washington now a days. I believe the mortgage interest is the only good thing being kept right now. I sure hope they don't take this away from the many homrowners across America. Thanks for the post and congrats to you!
Sep 26, 2011 10:45 PM