Many REALTORS® have asked for information on the debate surrounding the mortgage interest deduction that they can share with family, friends and colleagues. REALTORS® and the public alike are urged to share the information in this email with as many people as possible.

Background

Congress, as part of negotiations on avoiding the “Fiscal Cliff,” has made direct references to “closing loopholes” and “limiting deductions” as a way to raise revenues. Clearly, the mortgage interest deduction is high on this list of revenue raisers.

Losing the Mortgage interest deduction will disproportionately affect the middle class because a larger proportion of the middle class takes the deduction. In California 89% of those who took the mortgage interest deduction earned less than $200,000. Losing the deduction would cost the average California taxpayer over $3,900.

What your family, friends and clients can do to help:

Call Congress. First and foremost, we are urging the public to get involved by calling Congress to ask that the mortgage interest deduction be preserved. The public may reach Congress by calling 202-224-3121. The Capitol switchboard operator will help callers identify their member of Congress and connect them.
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Monday-Friday
from 9:00 am – 6:00 pm, Eastern time.

 Get the word out. Many people seem to be blissfully unaware that their mortgage interest deduction is in danger. Please do the following to make sure that the message spreads.

1. Forward this message to your family, friends and clients.
2. Post this information on your personal and office websites and blogs.
3. Share this information on Facebook and urge others to share it as well.
4. Tweet about it on Twitter and urge others to retweet. Use the hashtag: #savethemid.
5. Link to the following web page: KEEP MY MID. This site has information about contacting Congress, more information on the MID and links to articles.
6. As you see new information and articles, share these on all your social networking sites.