Mortgage Interest Deduction

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REALTORS® Defending MID 

The Illinois Association of REALTORS® strongly opposes proposals to reduce the mortgage interest deduction (MID) as this would further erode a critical cornerstone of families, communities and our economy and would be dangerously counterproductive.

Hard-working American families’ budgets are already stressed. Reducing or eliminating the mortgage interest deduction would pull even more money directly out of their wallets. Download the facts >

  • Latest news and information defending MID
  • Who Really Benefits from the MID? (Jan. 2, 2011) - In an NAR Letter to the Editor Economist Lawrence Yun challenges misconceptions that the mortgage interest deduction primarily benefits the wealthy with stats showing 65% of families who claim the MID earn less than $100,000 per year. Read more >
  • Watch this video to learn who would be impacted from cuts to MID: 

 

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MID Calculator:
NAR created the free MID Calc for homeowners to estimate the tax-savings value of their mortgage interest deduction. Compatible with iPhone, iPod touch, and iPad.
Download the app from iTunes >