As you know, I don’t often write about politics, but I do have strong political feelings.  Particularly when an issue may have a direct effect on any of my past, present or future clients!

Today the National Association of REALTORS sent an email out to their members, which incidentally are over a million strong.  It starts off like this:

“February 26, 2009 - President Obama released his budget proposal this morning. A small section of the sweeping budget plan has the potential to become a major impediment to a recovery in real estate markets across the nation. NAR is 100% opposed to the provision that modifies the Mortgage Interest Deduction and is prepared to use its formidable array of resources against its enactment.

As currently drafted, the plan changes the Mortgage Interest Deduction by reducing the amount of mortgage deductibility on families earning over $250,000. This proposed change in the Mortgage Interest Deduction will result in further erosion of home prices and home values. If this proposal is enacted it will set of a new round of price depreciation, will cause greater distress on the balance sheets of banks as the collateral value of mortgage backed securities declines. A second credit crisis could emerge before the first one is resolved.”

To read the rest of this release, click on the link below.  Feel free to check out the actual bill and find out more surfing NAR’s site.  It is excellent!

http://www.realtor.org/government_affairs/mortgage_interest_deduction/mid_obama_budget_proposal?lid=ronav0019

If you are so inclined to write or call your politicians, but need help in finding their contact information, please call or write me and I’ll be happy to help!

Respectfully,

Larry