Mortgage interest deduction Latest News

(Huntington, NY) —Brian Leibowitz, CEO and Owner of Affordable Financial Services, says the government’s proposal to do away with the mortgage interest deduction (MID) will negatively impact the mortgage lending industry as prospective homeowners...

The President and Congress are trying to raise tax revenues. Among the potential sources is the $100 Billion that homeowners save through the mortgage interest deduction. An end to this deduction could be disastrous and unjust.

If the fiscal cliff is to be avoided, the Home Mortgage Interest Deduction may play into the debate on how to increase tax revenues demanded by the Democrats. The middle class likes this deduction. What to expect.