Monday, October 29, 2012

Fact Check: Who Wins and Who Loses When Next President Ends Mortgage Interest Deduction

The Mortgage Interest Deduction Will End 

It is all but certain Congress will eventually eliminate the much loved and historic mortgage interest deduction

Unbiased and Complete Coverage of Pluses and Minuses of Mortgage Interest Deduction

Since it seems so likely that this sacrosanct tax deduction is going away in the next year or so, it is odd that so little of substance has been written about the pro's and con's, winners and losers, and potential consequences both obvious and subtle.  It will be the goal of this blog to cover every detail of the debate over the mortgage interest deduction with clear eyes, and with the intention to remain unbiased.  In fact, the basic contention of the series will be that the math for the most likely proposals results in surprise benefits for some who may not think they like the idea of eliminating the subsidy, and surprise losses for some who might be supporters of the new approach.

Join the Discussion About the Future of the Mortgage Interest Deduction

Here is a list of the complete series of blog posts we have created on this issue.  Hopefully you will find them informative and even handed. 

Three fourths of the homes effected by any reduction or elimination of the mortgage interest deduction are in blue states.  Check out the facts.
http://blog.mortgagehelplosangeles.com/2012/12/at-least-three-fourths-of-homes.html



 Will you be effected if the mortgage interest deduction is eliminated?
Are you curious about the effect of any change in the home mortgage deduction on your taxes?
http://blog.mortgagehelplosangeles.com/2012/12/revealed-how-will-change-in-mortgage.html

Home Values of those effected by ending the Mortgage Interest Deduction Could Drop by Hundreds of Thousands of Dollars.  Is that fair.
http://blog.mortgagehelplosangeles.com/2012/12/a-major-injustice-and-massive.html




Capping the Schedule A Deductions Might be More Fair than Eliminating the Home Interest Deduction
http://blog.mortgagehelplosangeles.com/2012/11/schedule-cap-another-way-to-increase.html

Could Ending the Home Mortgage Interest Deduction Send Another Horrible Shock Wave Through the Economy?
http://blog.mortgagehelplosangeles.com/2012/11/shocking-unintended-consequences-if.html

Ending Home Mortgage Interest Deduction Could Give US Government $1.2 Trillion in Revenues over the Next Decade
http://blog.mortgagehelplosangeles.com/2012/11/government-and-mortgage-holders-fight.html
$100B

What Are Options to Ending the Home Interest Deduction
http://blog.mortgagehelplosangeles.com/2012/11/options-to-change-or-replace-mortgage.html

What Are the Reasons or Benefits Associated with Ending the Home Mortgage Interest Tax Deduction?
http://blog.mortgagehelplosangeles.com/2012/11/9-reasons-to-eliminate-home-mortgage.html

What Are the Benefits to Homeowners and the Real Estate Industry of Keeping the Mortgage Interest Deduction
http://blog.mortgagehelplosangeles.com/2012/11/10-benefits-to-taxpaying-homeowners-of.html

What are the Societal Benfits of Keeping the Home Interest Tax Deduction
http://blog.mortgagehelplosangeles.com/2012/10/7-social-benefits-of-home-ownership-and.html

Contributors to the content come from the center left and center right of the political spectrum, and experts will be sighted throughout the posts from dozens of thoughtful commentators in finance, business, academia, and from every point of view.  In order to maximize our goal of getting it all on the table, we hope that you will bring your opinions to the comment section, and that if you have credentials and would like to write a guest column, please contact us with your proposal. 

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