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Realtors ask Congress to keep Homeownership Tax Policies

April 28, 2013 5:27 pm

NAR president Gary Thomas recently spoke before the U.S. House Ways and Means Committee about Federal tax provisions that affect residential real estate.Thomas stated that homeownership has had long-standing support in the country because of the benefits that provide to individuals and families, communities and to the nation’s economy in general.

The National association of Realtors recently released an article asking Congress to avoid harm to homeowners in America by maintaining current tax laws that promote and encourage homeownership as a way to build wealth.

" In his testimony, Thomas said the current tax code contains housing-related provisions that help facilitate homeownership, build wealth for families and provide stability to communities. Altering these policies could marginalize current and future home buyers as well as jeopardize the nascent housing recovery and the overall economy."

Thomas specifically asked for maintaining the current deduction for home mortgage interest. "The mortgage interest deduction makes sustainable homeownership more affordable for millions of middle-class families; these families are the nation’s backbone,” said Thomas.

To read the full article you can go to http://www.realtor.org/news-releases/2013/04/realtors-urge-preserving-of-homeownership-tax-policies.

If you or anyone you know is looking to sell or buy a home in Marietta, Kennesaw, Acworth or any part of North Atlanta we will honor the opportunity to help. Call Ana Hodge at 770-298-2226 or email ana_hodge@hotmail.com.