Reply With QuoteYou will no longer be able to write off your mortgage interest or only a small percentage.
A bill is currently before congress on removeing the tax credit for homeowners. This should slow down the Houseing boom and possibly put some folks into financial hardship when it passes. Leave it to our government to screw us. Guess we have to find a way to pay back all these BILLIONS of dollars we keep spending and giving away. :hammerhea
You will no longer be able to write off your mortgage interest or only a small percentage.
We dont get to vote on it.
i hope that goes nowhere..............
I read that they want to limit the deduction for people who own houses over $350K (I believe that was the number).......not for us working folks!
I really doubt the bill will pass.
I agree,it's political suicide :yuk:
I heard somewhere that if they did this for one year we could pay the war or hurricane katrina. I would do it once for that kind of help
I read that they want to limit the deduction for people who own houses over $350K (I believe that was the number).......not for us working folks!
Well the average house in california for the workin class is 500,000 +
This will suck for me at least!
This is all I could find... Stop panicing.... (http://thomas.loc.gov/cgi-bin/query/...9KjCwaL:e4130:)
350 thousand wont even buy a small condo were I live, and actully I think that is about a 30 persent down payment on a house in most of our neighborhoods. As far as a 1 time deal to pay for Katrina or the war, hell no!!! I do believe in the cause for Katrina and I wont get into the whole war debate but if our goverment does it once for lets say Katrina, next year they will do it for another storm, and so we go into a state of paying every year for stuff and it becomes perminent.
Posting Permissions