Pearland Real Estate Expert

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CALL FOR ACTION! – Don’t Let the Mortgage Interest Deduction Slip through the Cracks

Fellow REALTOR®,
 
A critical Call for Action regarding federal income tax reform will end very soon. To those of you who have already responded to the Call for Action, I sincerely thank you. I ask that you please spread the word among your REALTOR® friends and colleagues.
 
To those who have not yet responded to the Call for Action, please act now. U.S. Senators are considering sweeping tax changes, and every current  exemption, deduction, or credit in the tax code is on the line. That means the mortgage interest deduction, the deduction for state and local taxes, and the capital gains exclusion of the sale of a primary residence may all disappear. These crucial tax benefits are among a wide range of tax provisions that affect residential, investment, and commercial real estate.
 
Houston REALTORS® must ensure that each of those tax provisions is defended. How will the Houston market fare without buyers having access to the Mortgage Interest Deduction? Are you willing to find out?
 
It’s very easy to respond to this Call For Action. You can do so by visiting www.realtoractioncenter.comor simply clicking HERE. This one minute out of your day could save you and your clients thousands of dollars per year!
 
Thank you, and please act now!





Danny Frank
2013 HAR Chairman

 
Chat: Google Talk: DanFrankTX Skype: DanFrankTX

  

 

Comment balloon 24 commentsDanny Frank • July 25 2013 10:43AM

Comments

So interesting how federal politicians need to balance anything fiscally, it's usually figure out a way to get more money from taxpayers rather than reduce overall spending.

Posted by Wayne Johnson, San Antonio REALTOR, San Antonio Homes For Sale (Coldwell Banker D'Ann Harper REALTORS®) about 4 years ago

I've actually been ignoring this CTA for a while and it has nothing to do with the MID.  The NAR lobby is pretty powerful. If they play it right, the MID might just survive the Blank Slate.

Posted by Bryan Robertson, Broker, Author, Speaker (Intero Real Estate) about 4 years ago

Thank you for the link . I will click it right now. Have a good day.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) about 4 years ago

This is such an important issue.  I am a member of Team Honeycutt and we have been trying to be as active on this issue as possible by sending the officials requests for help with this legislation.

Betty

Posted by Team Honeycutt (Allen Tate) about 4 years ago

I responded already .  Thanks for the reminder.

Posted by Jay & Michelle Lieberman, Creating Calm in the Buying and Selling Chaos (Keller Williams World Class) about 4 years ago

I think I've responded a gazillion times by now and put it on my facebook page for people to respond as well. Very important to do.

Posted by Nina Hollander, Your Charlotte/Waxhaw/Fort Mill Area Realtor (RE/MAX Executive | Charlotte, NC) about 4 years ago
The government or the power behind it is looking to change the culture of the country and we have beeen falling prey to them for a long time without even a sound bite. A soft electorate and it is all about ME attitude will now cause our demise. We have kicked God out of the country so how do you expect the outcome to turn out. A standing army doees not work but change a society than you have accomplished the goal. History though is veery boring.
Posted by Jimmy Faulkner, The Best Of St. Augustine (Florida. Homes Realty & Mortgage) about 4 years ago

I am one it!  I thought this issue was resolved, but it seems it is back on the table again.

Posted by Joan Whitebook, Consumer Focused Real Estate Services (BHG The Masiello Group) about 4 years ago

Danny, I have re-blogged your post - so as to spread the word. Yes, I did respond to this CTA.

Posted by Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (eXp Realty) about 4 years ago

We really just need to scratch our current tax system and start over. I certainly understand the value of the mortgage deduction, but  a basic flat tax without the myriad of deductions, AMT, etc. would provide a lot more clarity into an area that many don't understand.

Posted by Aaron Hofmann, aka Mr. Smyrna Vinings (Atlanta Communities) about 4 years ago

I don't think it will ever go away.  Don't forget, these Senators and Congresspeople have homes and it would be cutting off their own nose, perhaps their biggest deduction.

Posted by Gary Frimann, REALTOR and Broker (Eagle Ridge Realty / Signature Homes & Estates) about 4 years ago

it seems that the dedcuction will disappear some day (soon) since there is so much effort to do away with it...dispicable in my view since Obama offered a credit to get home owners to buy...so that he can now take away the primary reason for buying?

Posted by Paddy Deighan JD PhD, Paddy Deighan J.D. Ph.D (TimeshareLawyers.pro) about 4 years ago

Have done this already Danny and thanks for the post to keep reminding those who have yet to take action.

Posted by John F Muscarella, Broker/Owner, Cape Cod, MA - Venice, FL (RIVER FARM PROPERTIES, LLC) about 4 years ago

Good Morning:  Yes this would not good for all in the business, keep up the good Info and good luck with your sales, E

Posted by Ed & Tracy Oliva, The Oliva Team Arizona Agents (West USA Realty - Arizona) about 4 years ago

Good advice!

Posted by Andrew Mooers, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) about 4 years ago

I think that it is important but do not 'follow' the RPAC membership like a puppy without a mother.  I wrote all my clients as a monthly contact about this also.  I'm not sure that many of them realized this was on the table. It's important to the middle class in our country.

Posted by Lyn Sims, Schaumburg IL Area Real Estate (RE/MAX Suburban) about 4 years ago

Hi Danny, we agree.  This is one of the most important deduction consumers have left and allows them to leaverage their payment to get a much better home.

Posted by Bob Miller, The Ocala Dream Team (Keller Williams Cornerstone Realty) about 4 years ago

WOW - that was easy! I have LastPass, so one click and my info was entered. Then just hit submit. DONE.

Posted by Travis "the SOLD man" Parker; Associate Broker, email: Travis@theSOLDman.me / cell: 334-494-7846 (Team Linda Simmons, Enterprise, AL 36330) about 4 years ago

If you voted for Change and this is not exactly what change you wanted, your should change YOUR MIND about whom YOU VOTE FOR.  Keep smilin'

Posted by Brian Schulte, SFR, Sierra Vista, AZ (Allison James Estates & Homes) about 4 years ago

Time to eliminate the IRS, wipe out the entire tax code and start over. Realtors have become another power lobby, special interest group with their hands out. Claims of helping homeowners are hollow when the those same owners can buy rentals, write off huge amounts and their customer base (the renters) get zero benefits. Home ownership has many benefits without creating a tax advantage over their neighbors who may have very good reasons for renting. 

Posted by Chris Miller Nevada Land with Water Rights, Land with Water Rights For Sale (Vegas Grand Realty and Property Management) about 4 years ago

the IRS will never be wiped out in your lifetime or for the next 10 centuries for that matter

Posted by Ron Aguilar, Mortgage & Real Estate Advisor since 1995 (Continental Mortgage) about 4 years ago

Why should the people who dive deepest into debt get the largest tax subsidy from our tax dollars? Then from that high perch look down their noses at those purchasing their groceries with EBT cards, explain what is the difference? Time for the government to get our tax dollars out of the manipulation of the real estate markets, period. We simply can not afford it anymore.

Posted by Chris Miller Nevada Land with Water Rights, Land with Water Rights For Sale (Vegas Grand Realty and Property Management) about 4 years ago

Dear Danny,

Thank you for the reminder.

Posted by Dörte Engel, ABC - Annapolis, Bowie, Crofton (RE/MAX Leading Edge) about 4 years ago

Regardless of what action you take, those representatives in Congress will vote for their special interests groups that keep them elected term after term. Want to make a difference, take action to insist on term limits for all politicians? Eliminate adding amendments to bills that have funding requirements; all funding bills should be categorized 4 times a year to get funding or not, unless for an emergency. Return the government to the people not to the career politicians.

Posted by Kimo Jarrett, Pro Lifestyle Solutions (WikiWiki Realty) about 4 years ago

Participate