Posted: Sep 14, 2005 By: Josephine Lee

Subject: Mortgage Deduction

Comment: As a Realtor selling homes in Staten Island, NY, for the past 12 years, I feel eliminating the Mortgage Deduction would make a major impact on peoples decisions on purchasing homes. One of the major benefits of purchasing a home is that people can deduct their interest, if you take that away people would rather rent than buy. As a Realtor you always tell potential homebuyers of the benefits of homebuying over renting and it always appeals to new buyers as well as buyers who are looking to trade up to a bigger house. Do you think by eliminating the Mortage Deduction Realtors will be able to sell homes, do you think people will want to trade up and buy a bigger home, I think not.