Obama Proposal to Reduce Mortgage Interest Deducibility

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Mortgage and Lending with Supreme Lending NMLS#: 1054841

 

Federal Proposal to Reduce Mortgage Interest Deducibility  

 

The Obama Administration has recommended, as part of its budget proposal, that the amount families earning more than $250,000 year can deduct for mortgage interest be reduced. We must ask ourselves what are the consequences of doing this? Logic would tell us that those with the deepest pockets would not be inclined to purchase real estate if the tax deduction was reduced or removed. This may affect the value of all property and further hinder recover of real estate prices for a long period of time.

 

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Topic:
Real Estate General Information
Location:
California San Diego County
Tags:
taxes

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Rainer
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Charles Perkins
Charles G. Perkins, CPA - Burien, WA

It is quite likely there will be further recommendations of this sort as politicains look for ways to reduce the growing tax deficit.

Aug 11, 2009 05:29 AM #1
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Rainmaker
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Mike Marroquin

Supreme Lending Team
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