Mortgage Interest Deduction

Here is an article from Alan Kennedy’s blog, Home Mortgage Help:


Mortgage Interest Deduction allows home buyers a little perk to help offset the pain of a mortgage. In an economic atmosphere where every deduction helps, the interest paid on a home can be deducted on income taxes, helping to lower the total taxes paid. The fate of this deduction has been debated lately, and one of the most powerful proponents of the policy, the National Association of Realtors (NAR), in an op-ed piece list the merits and voice their support for the continuation of the policy.

What does this mean to the homeowner? With over one million members, the NAR was able to rank #13 in political contributions in 2012. With its influence in Washington, its voice will be heart, and the policies it endorses will be considered. This gives the mortgage interest deduction a chance of standing and offering homeowners a bit of relief. This deduction means more to new homeowners who are paying more interest early in their mortgages than those who are near the end of their loan, and perhaps offers a small incentive to those who are considering a new home.

About christinahammondhomes

Christina Hammond is currently a real estate agent for Keller Williams Greater Athens in Athens, Georgia. Her interests in real estate began when she was an undergraduate at Arizona State University, where she studied business and psychology. During her years at ASU, she apprenticed with one of the top producing real estate brokers in the area, learning the details of real estate sales in a large metropolitan area. This practical experience, combined with her university studies, further increased her interest in real estate as a career. Christina excels in developing close working relationships with clients that often grow into long term friendships. She has 15 years of real estate experience, the last 8 in the Athens area. As in Phoenix, she has fostered many connections with her clients and finds this part of her work more satisfying in this smaller venue. As Christina says, “It is enormously rewarding to help a client find a home that is right for them. Homes are the physical manifestation of many people’s dreams, and it is hard to express the satisfaction of helping someone find a home that they love.” Of course, selling real estate requires shrewd understanding of the market and competing forces. Such skills were honed through her academic experience, understanding legal contracts, business negotiations, market competition, etcetera. But from Christina’s perspective, real estate is fundamentally about the people, rather than just buying and selling. When she is contracted, her obligation to her client is paramount, and she will represent them as assertively as is necessary. Christina states, “You learn quickly that in a big city, as well as a smaller community, a great agent must be thorough and aggressive, so that the client can know that their interests are being managed effectively, and it allows them to relax and focus on the big picture.”
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