#3065397 - 12/05/12 08:31 PM
Mortgage interest tax deduction
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Birdiekiller
4 Point
Registered: 12/19/10
Posts: 193
Loc: Cleveland, TN
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The mortgage interest tax deduction is currently being debated by congress. They are considering totally removing the deduction, or reducing it. The benefit to the government would be that it would cost US tax payers close to $100 billion, which obviously would help offset the deficit.
Personally, I think it's a terrible idea. Not just because it would cost me $, but I think it would deter some people from buying a house all together. The last thing we need is another obstacle in the housing market.
My question: for those of you that don't own a house, would this be enough to change your mind about buying a house?
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#3065419 - 12/05/12 08:51 PM
Re: Mortgage interest tax deduction
[Re: Birdiekiller]
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Hogbear
10 Point
Registered: 07/21/05
Posts: 4032
Loc: Cuba (near Memphis)
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Rates are so low right now I dont think its a big factor. When rates go back up it will hurt a lot more.
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