Mortgage Interest Deduction
So far Congress and the President have failed to reach an agreement on the "fiscal cliff" discussion, which includes proposals to reduce or limit the mortgage interest deduction. These proposals have made direct references to closing loopholes and limiting deductions as a way to raise revenues. Clearly, the mortgage interest deduction is high on the list of revenue raisers.
Losing the Mortgage interest deduction will disproportionately affect the middle class because a larger proportion of the middle class takes the deduction. In California 89% of those who took the mortgage interest deduction earned less than $200,000. Losing the deduction would cost the average California taxpayer over $3,900 and potentially stall the housing recovery.
What you can do to help:
Call Congress or write directly to your representatives and urge them to preserve the mortgage interest deduction. You can reach Congress by calling 202-224-3121. The Capital switchboard operator will help you indentify your members of Congress and connect you to their offices. The switchboard is open Monday-Friday from 9 AM to 6 PM, Eastern Time.
President Obama said, tax breaks benefiting middle class families such as the mortgage interest deduction could be at risk if rates for top earners do not rise.
Many people seem to be unaware their mortgage deduction is in danger. Please consider passing this article on to family and friends or posting it on your Facebook page. For more information, you can go to the following webpage: www.KeepTheMID.com.
Please let me know if you have any questions about the importance of the mortgage interest deduction to middle class families and the continued recovery of the housing market. I can be reached at the MagnumOne Realty office in Roseville at 916-899-6571 or by email at firstname.lastname@example.org.
Julie Jalone, wife and mother living in Rocklin, is an experienced professional Realtor ® serving
the Greater Sacramento area including Placer, El Dorado, Yolo and Yuba counties.
Julie may be reached online at www.jalone.com or by calling (916) 276-6883
Check out her daily web blog: Keep it Real in Sacramento
Placer County News HeadlinesRoseville California Crime Brief (11.28.14)Roseville, CA - Crime report digest update for Roseville, CA November 28, 2014.
Rocklin Engineering Student on the MarchHalf of Cal Poly's 222-member marching band are engineering students - including Kevin Carstens, a civil engineering major from Rocklin, Calif.
Veronica Blake Appointed to LCCF BoardVeronica Blake, Chief Executive Officer of Placer Community Foundation, was appointed to the Board of Directors of the League of California Community Foundations.
Roseville Scam Alert IssuedThe Roseville Police department has issued the following scam alerts
Mail Theft on Rise in Roseville and RocklinRocklin and other neighboring cities in Placer County have seen an increase in mail theft from community mailboxes
Janice Forbes Memorial Dedicated in AuburnAuburn leaders gathered recently to dedicate a memorial to Janice Forbes at the Auburn School Park Preserve where a monument was erected to commemorate her contributions to our community.
Winter Choral Concert in Rocklin December 3rdRocklin, CA-- The Sierra College Music Department is proud to present a Winter Choral Concert on Wednesday, December 3rd at 7:30pm in Dietrich Theatre on the Sierra College Rocklin Campus.
Chronic Fatigue Syndrome Often Not BelievedChronic Fatigue Syndrome (CFS), also called Chronic Fatigue Immune Dysfunction Syndrome, had Carl Miller and his doctors, completely baffled for a long while.
Lexus LX570 SUV: Big, Attractive and SafeWhat most drivers will like about the Lexus LX570 is the combination of gracious around-town capability and its ability to go off-road in rugged winter conditions
Can You Get a Mortgage?Realtor, Julie Jalone, of MagnumOne Realty in Roseville, writes about a the current mortgage underwriting environment, how it is perceived buy potential home buyers and what lenders should do to accelerate the housing recovery here in Sacramento and across the country.
Santa to Visit Roseville Neighborhoods ScheduleRoseville, CA - After talking with Santa, he was able to work some time in his schedule to visit six Roseville neighborhoods this year before the holidays
Holiday Ice Rink in Roseville at GalleriaThe outdoor Bayside Ice Rink at the Westfield Galleria at Roseville is now open for the holiday season.