Eliminate the mortgage interest tax deduction??? An unthinkable proposition! Eliminating the deduction would deter home ownership and in the current envrionment accelerate the rate of foreclosures.
The mortgage interest deduction is generally considered untouchable among law makers.
What, however, might be some positive benefits of eliminating the mortgage interest tax deduction?
In such an event, how would you react as a Realtor to protect you business?
I am neither advocating that the mortgage interest deduction be repealed, nor petitioning any government officials to do. However, if forced to think about it, I can think of at least three or four positive short term and long term benefits.
Can you think of any positive benefits of repealing the mortgage interest tax deduction?