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Survey Shows Voters Oppose Eliminating Mortgage Interest Deduction
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Survey Shows Voters Oppose Eliminating Mortgage Interest Deduction
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
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Survey Shows Voters Oppose Eliminating Mortgage Interest Deduction
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June 15, 2011 (Brian Moore)

A recent survey on behalf of the National Association of Home Builders (NAHB) shows that American voters are in no mood to have their long standing housing tax breaks messed with as 71 percent of the voters surveyed opposed eliminating the mortgage interest deduction and 63 percent opposed any efforts to reduce it.

Home equity loans and lines of credit were also sacred cows as a majority of the voters surveyed were also against cutting deductions on these second mortgages. A majority of the voters also rejected the elimination of the deduction for interest paid for a loan on a second home and limiting the amount of the deduction for those earning more than $250,000 per year or capping the deduction for home owners with mortgages over $500,000.

Candidates from either political party would suffer greatly if they supported eliminating the mortgage interest deduction with 63 percent of Republicans, 56 percent of Independents, 55 percent of Democrats and 61 percent of tea party supporters saying they would be less likely to support a candidate who favored killing the deduction.

When voters were asked if they believe the federal government should provide tax incentives to help promote homeownership, 79 percent of Democrats, 71 percent of Republicans and 68 percent of Independents agreed that they should.

Voters in the survey also tended to disagree with what Washington policymakers have been proposing as fixes for the housing crisis. In regards to the raising the down payment requirements for a home loan, 92 percent believe that the requirements being discussed would make it difficult to buy a home.

Among voters who would be most likely affected by the “Qualified Residential Mortgage (QRM)” requirement, mortgage holders and renters ages 18 to 54, the survey found 59 percent of the renters and 58 percent of those currently holding a mortgage opposed the QRM requirement and regarded it as an obstacle to buying a home.

“Those in Congress who believe that homeownership and housing choice should no longer be national priorities would be well-served to study the results of this poll and hear what the American people think,” said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. “To put it another way, America’s voters have spoken. If Congress abandons policies to support the goal of homeownership and to keep housing affordable, lawmakers could be in for a rude awakening in the 2012 elections.”

Tags: NAHB, mortgage interest deduction, housing tax breaks, home equity loans, lines of credit, second mortgages, political parties, Republicans, Democrats, Independents, Tea Party

Source:
NAHB

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June 15, 2011 (Brian Moore)

A recent survey on behalf of the National Association of Home Builders (NAHB) shows that American voters are in no mood to have their long standing housing tax breaks messed with as 71 percent of the voters surveyed opposed eliminating the mortgage interest deduction and 63 percent opposed any efforts to reduce it.

Home equity loans and lines of credit were also sacred cows as a majority of the voters surveyed were also against cutting deductions on these second mortgages. A majority of the voters also rejected the elimination of the deduction for interest paid for a loan on a second home and limiting the amount of the deduction for those earning more than $250,000 per year or capping the deduction for home owners with mortgages over $500,000.

Candidates from either political party would suffer greatly if they supported eliminating the mortgage interest deduction with 63 percent of Republicans, 56 percent of Independents, 55 percent of Democrats and 61 percent of tea party supporters saying they would be less likely to support a candidate who favored killing the deduction.

When voters were asked if they believe the federal government should provide tax incentives to help promote homeownership, 79 percent of Democrats, 71 percent of Republicans and 68 percent of Independents agreed that they should.

Voters in the survey also tended to disagree with what Washington policymakers have been proposing as fixes for the housing crisis. In regards to the raising the down payment requirements for a home loan, 92 percent believe that the requirements being discussed would make it difficult to buy a home.

Among voters who would be most likely affected by the “Qualified Residential Mortgage (QRM)” requirement, mortgage holders and renters ages 18 to 54, the survey found 59 percent of the renters and 58 percent of those currently holding a mortgage opposed the QRM requirement and regarded it as an obstacle to buying a home.

“Those in Congress who believe that homeownership and housing choice should no longer be national priorities would be well-served to study the results of this poll and hear what the American people think,” said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. “To put it another way, America’s voters have spoken. If Congress abandons policies to support the goal of homeownership and to keep housing affordable, lawmakers could be in for a rude awakening in the 2012 elections.”

Tags: NAHB, mortgage interest deduction, housing tax breaks, home equity loans, lines of credit, second mortgages, political parties, Republicans, Democrats, Independents, Tea Party

Source:
NAHB

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

June 15, 2011 (Brian Moore)

A recent survey on behalf of the National Association of Home Builders (NAHB) shows that American voters are in no mood to have their long standing housing tax breaks messed with as 71 percent of the voters surveyed opposed eliminating the mortgage interest deduction and 63 percent opposed any efforts to reduce it.

Home equity loans and lines of credit were also sacred cows as a majority of the voters surveyed were also against cutting deductions on these second mortgages. A majority of the voters also rejected the elimination of the deduction for interest paid for a loan on a second home and limiting the amount of the deduction for those earning more than $250,000 per year or capping the deduction for home owners with mortgages over $500,000.

Candidates from either political party would suffer greatly if they supported eliminating the mortgage interest deduction with 63 percent of Republicans, 56 percent of Independents, 55 percent of Democrats and 61 percent of tea party supporters saying they would be less likely to support a candidate who favored killing the deduction.

When voters were asked if they believe the federal government should provide tax incentives to help promote homeownership, 79 percent of Democrats, 71 percent of Republicans and 68 percent of Independents agreed that they should.

Voters in the survey also tended to disagree with what Washington policymakers have been proposing as fixes for the housing crisis. In regards to the raising the down payment requirements for a home loan, 92 percent believe that the requirements being discussed would make it difficult to buy a home.

Among voters who would be most likely affected by the “Qualified Residential Mortgage (QRM)” requirement, mortgage holders and renters ages 18 to 54, the survey found 59 percent of the renters and 58 percent of those currently holding a mortgage opposed the QRM requirement and regarded it as an obstacle to buying a home.

“Those in Congress who believe that homeownership and housing choice should no longer be national priorities would be well-served to study the results of this poll and hear what the American people think,” said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. “To put it another way, America’s voters have spoken. If Congress abandons policies to support the goal of homeownership and to keep housing affordable, lawmakers could be in for a rude awakening in the 2012 elections.”

Tags: NAHB, mortgage interest deduction, housing tax breaks, home equity loans, lines of credit, second mortgages, political parties, Republicans, Democrats, Independents, Tea Party

Source:
NAHB

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.