Title Action Network Urges Action to Save Mortgage Interest Deduction

December 11, 2012

ALTA issued a grassroots action alert to members of the Title Action Network regarding the need to preserve the mortgage interest deduction (MID).

The alert encouraged members of the network to share concerns about any fiscal cliff solution that involves modification or elimination of the mortgage interest deduction. President Obama in December indicated the MID could be at risk.

“The housing industry is a major component in our fragile economic recovery and any modification of the mortgage interest deduction will have negative impacts,” the grassroots letter said. “As our economy continues to recover, it is important to retain the jobs our industry is creating. Changes to the mortgage interest deduction would halt job growth and not allow us to preserve jobs during this nascent recovery. Additionally, the mortgage interest deduction helps homebuyers get into their first home. We must be careful before making changes that will deter homeownership.”

So far, more than 100 members of the Network have informed more than 200 members of Congress about the importance of the MID.

To join the Network and take action, go to www.titleactionnetwork.com.