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Elimination of Mortgage Interest Deduction (MID)

by Mike on April 21, 2009

Just when things are looking like they are settling down, the great DFL of Minnesota is at it again. Today, the MN House of Rep. Tax Committee released a "delete all amendment" to HF2323.

Items of note:

Eliminate Mortgage Interest Deduction
- Replaced with a maximum $420 credit
Eliminate Property Tax Deduction

Here is a short video with Christopher Galler from the Minnesota Association of REALTORS explaining this.

Contact your Representative (if you live in Minnesota) and urge them to Vote NO on HF2323.

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Comments

6/17/2009 1:20:02 AM #

Very informative article thanks to sharing this information with us.

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8/26/2009 9:06:09 AM #

It looks like our government is doing everything to bring back a sense of balance in real estate industry, I lot of people depend on these decisions and I doubt things will get solved that easy. I think we should focus on regaining people's confidence into buying homes again.

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9/24/2009 8:02:21 PM #

How do I work out what mortgage I can get ?

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10/13/2009 2:56:29 PM #

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10/22/2009 1:08:33 PM #

This is a helpful video but how can I inform my mortgage broker about this deduction, I am not interested in giving any fee for this

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10/23/2009 6:27:50 PM #

I am glad they are making efforts to make homes more accessible to us. Reviving real estate industry may be a good start in getting us out of the financial crisis, don't you think?

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11/24/2009 4:24:03 PM #

Great post.

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2/4/2010 8:11:44 PM #

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