Wednesday, March 30, 2011

NAR Issues Call to Action to Uphold Mortgage Interest Deduction

The National Association of REALTORS® is encouraging its members to reach out to Congress to persuade them to cosponsor H.R. 25, a bipartisan House resolution offered by Rep. Gary Miller (R-Calif.) that affirms the value and importance of the mortgage interest deduction. The associationissued a call to action this morning to help REALTORS® send a message to their representatives on this issue.

“We know in Congress that there’s a lot of questioning of whether home ownership matters,” 2011 NAR President Ron Phipps said in a video promoting the effort. “We really need to remind Congress that the mortgage interest deduction is a critical element of … the experience of home ownership.”

As currently constructed, this bill expresses the sense of Congress that the current law governing the MID must be retained, and argues that restricting the current law in any way would undermine progress in the still-fragile housing recovery.

Source: NAR

Side note: Did you know that REALTORS® are the individuals who fight for the rights of home owners? I am going to the Texas State House to do just that in a few weeks. I will be sure to report back!

REALTOR® Magazine-Daily News-NAR Issues Call to Action to Uphold MID

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