How the Mortgage Interest Deduction Helps Homeowners
Posted by Florida Realty Marketplace on
Mortgage Interest Deduction: How Your House Pays You Back
Buying a home delivers emotional satisfaction as well as a proven method of wealth-building. The mortgage interest deduction is another appealing benefit for prospective buyers.
Real estate agents and home builders tout this tax deduction as an incentive to buy a home. They like to claim that it increases the homeownership rate and helps people transform from renters to homeowners.
The mortgage interest tax deduction was introduced in 1913. It has survived numerous tax reforms because of the incentive the tax provides for renters to buy homes.
Housing industry advocates have consistently lobbied to protect the deduction because it helps make buying a home easier. That increases the…
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