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RED ALERT!! Will the Mortgage Interest Deduction (MID) go OVER THE FISCAL CLIFF?!!

Santa Rosa, California— RED ALERT!!   On Monday, December 3, 2012 The National Association of Realtors (NAR) will launch an all member Call for Action regarding proposed changes to the Mortgage Interest Deduction.

By now you have seen numerous news reports concerning the “Fiscal Cliff.” Many of these reports speculate that a change to the long-standing policy that allows homeowners to deduct mortgage interest payments from their income taxes could be part of a “Fiscal Cliff” deal.

The Call for Action will ask REALTORS® to “remind” Congress about our position on any proposed changes to the mortgage interest deduction. NAR has been using the following statement regarding MID and suggest that you use it as well, modified for your 2013 president.

“Until Congress introduces specific legislation, there’s nothing to say about any proposed changes to the mortgage interest deduction. However, it has always been NAR’s position that the MID is vital

to the stability of the American housing market and economy and we will remain vigilant in opposing any future plan that modifies or excludes the deductibility of mortgage interest.”

– 2013 NAR President Gary Thomas

 

If you have any questions or concerns please let Allison and I know.

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