It appears that Obama really wants to put a stop to the mortgage interest tax deduction. Why? I have no idea as it does help every homeowner with their taxes. The National Association of Home Builders wants to help protect this deduction. There are other entities that want to protect this as well and they are working to do this too. We all need to come together to help put a stop to this. We all need tax deductions and this is a major one.
This has been a major concern for the government to cut for a while now. But there is less interest being written off now as values are down and prices are down. There are even tougher guidelines to get a mortgage and more of them are smaller. Interest rates are low. With interest rates being low that means less interest is being paid as well. So, with that said the people are writing off less mortgage interest than the federal government thought. They thought it would be a huge amount to try to cut when now it is not. They are just looking at ways to get more money to keep but this is not one of them....at least not at this point and I think we need to do what we can to protect ourselves so it can be a tax write off. If I find some website to vote NO, I will provide that to you all. I feel we need tax write offs and our home is one of the largest ones we have. If the government keeps cutting our write offs, we all will be in trouble. Make it a great day!
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