Now is not the time to ‘try’ and alter the housing incentives just as housing is starting to recover. Too many people are still underwater on their homes, and if they do not feel that there is an opportunity to get past this in the not-too-distant future, these people will consider a strategic default. And when that happens, it will be a tidal wave of foreclosures.
Dennis J. Papiernik
Cole Taylor Mortgage
National debt problem vs. home-ownership – that is the balance.
I personally feel the national debt problem is of larger concern than homeownership. Because of this, I support reducing the MID, phasing the amount down over a five-year period, and leaving the deduction tied to the Fannie Mae loan limit. As it increases, or decreases, so does the deduction.
PHH Home Loans