Possibly. Even though the report from the Commission for Deficit Reduction will not go to Congress for an automatic vote, there is the possibility that individual pieces of it -- such as curbing the mortgage interest deduction -- could be included in the proposed budget that will be sent to Congress in January.
Click here to read "Plan to Curb MID Remains in Play" by Robert Freedman, Senior Editor of REALTOR Magazine and to watch short video from REALTORTV.
Click here to read "Commentary: Mortgage Interest and Real Estate Tax Deduction Facts" by Danielle Hale, posted on Realtor.org. This is a sobering look at what impact losing the MID might have on the economy and housing market.
A blog about real estate news and information in the Northern Virginia area
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