Mortgage deduction defended by Realtors
McHENRY - Local Realtors are lobbying against any changes in the mortgage interest deduction.
Fiscal cliff negotiations reportedly have included discussions to eliminate or reduce the deduction, which has been a perk for homeowners for nearly 100 years.
Many homeowners of all income levels deduct their mortgage interest when itemizing their deductions. The deduction has helped bolster the income of millions of families – and the broader housing market.
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