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[21 Nov 2010 | 4 Comments | 2,168 views]
Mortgage interest deduction under fire?

Earlier this month, an article in the New York Times got a lot of attention.
Specifically, the publication pointed out that the National Commission on Fiscal Responsibility and Reform – a group appointed by President Barrack Obama to balance the budget by 2015 – was considering scaling back the mortgage interest deduction. That deduction, of course, allows taxpayers to reduce their taxable income in accordance to the interest paid on mortgages.
The National Association of Realtors’ reaction to the news was a bit odd as the group tends to hyperventilate whenever any …