If you are following the news that is beginning to leak out about President Obama’s budget proposal you may be aware of a small section of the budget plan that may affect all homeowners, or potential homeowners. As the plan is currently drafted the plan changes the Mortgage Interest Deduction by reducing the amount of mortgage deductibility on families earning over $250,000. This begins to chip away at the most substantial deduction most taxpayers have, and could conceivably lead to further erosion of home values. Expressing your opinion directly to representatives in Congress might be a worthwhile few minutes of your time.
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