The Mortgage Interest Deduction (MID) for deducting on your income tax the interest you pay on your mortgage, is a long standing deduction used by homeowners. This “reward” for home ownership helps to foster and promote the goal of homeownership as part of many Americans Dream. For 234 years our country has promoted property ownership as a core value. Home ownership leads to more tight knit communities, financial benefits and family ties.
Recently, there have been discussions about eliminating this significant tax deduction.
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