Urges Preservation of Mortgage Interest Deduction

With plans to change the Mortgage Interest Deduction (MID) being presented to Congress in hopes of reducing the federal budget deficit,, along with homebuilders, industry and realtor groups is urging the maintenance of the benefit in its full potency. “The owners of manufactured homes, like all homeowners, benefit from this important deduction,” says Publisher ‘Tony’ Kovach. “Homeownership is a staple of the American economy and is an important enabler of upward mobility. The deficit should not be reduced to the detriment of the American Dream.” The National Association of Homebuilders (NAHB) Chairman Bob Jones recently said reducing the benefit of the deduction is simply the wrong approach to the problem and that the consequences would be devastating for housing and the economy. Thayer Long, executive vice president of the Manufactured Housing Institute (MHI) said his group is part of a growing coalition of housing advocacy groups to save the MID. “It’s an important part of maintaining a vibrant homeownership market,” Long says. “Since we are a part of the housing market, and it does help owners of manufactured homes who choose to itemize their taxes, we believe it should be left alone.” The National Association of Realtors (NAR) issued a call to action among its members to call Representatives and ask them to defend the MID from any cuts or reduction as outlined in the recent Deficit Commission Report.

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