Did you know that REALTORS® are determined advocates for your real estate interests? You've probably seen countless articles stating that members of Congress may look at the Mortgage Interest Deduction to help address financial matters. REALTORS® have been educating Congress and the President for years about the benefits the Mortgage Interest Deduction has on the economy. According to NAR, individuals are permitted to deduct mortgage interest paid on mortgage debt of up to $1 million. The deduction is available for interest on mortgages for a principal residence and one additional residence. The $1 million limitation represents the combined allowable debt on two residences. Elected officials have looked to adversely change the deduction; however REALTORS® know that more than 75% of homeowners utilize the deduction over the period they own their home. Proposals have come about to change the deduction. However, to ensure that housing values and economic recovery remains strong, NAR has strongly advocated against any changes. This is just one example of how REALTORS® are tirelessly fighting on your behalf. To learn more about the Mortgage Interest Deduction, contact your preferred REALTOR® today.