default avatar
Welcome to the site! Login or Signup below.
Logout|My Dashboard
Diane Gallagher

An open letter to President Obama from the president of the California Association of Realtors

Font Size:
Default font size
Larger font size

Posted: Friday, December 21, 2012 12:00 am | Updated: 7:16 am, Fri Dec 28, 2012.

Merry Christmas! I pray you remember the reason for the season and you be blessed abundantly.

As you may recall, last week I wrote about the Mortgage Interest Deduction, well it’s not over yet. The California Association of Realtors placed an open letter advertisement on Wednesday, in California’s six largest daily newspapers, calling on President Obama and Congress to preserve the mortgage interest deduction in its entirety during their “fiscal cliff” discussions.

The letter was placed as a full-page ad in the Los Angeles Times, San Francisco Chronicle, San Jose Mercury News, Sacramento Bee, U-T San Diego, and the Orange County Register, and states any proposal that eliminates or attempts to alter in any way the mortgage interest deduction undermines a century-old commitment to the American Dream of home ownership. I have attached the letter written by our CAR president to this article for you to see that the Realtors are working for you.

“The mortgage interest deduction makes a substantial difference for lower-and middle-income families,” said CAR President Don Faught, under whose signature the letter was written. “If the deduction is taken away, it would cost the average California taxpayer $3,940 annually; further, more than 694,000 California households would no longer be able to afford to buy a median-priced home.”

“While current discussions involve reducing the limit to $500,000 for a primary residence and eliminating it entirely for second homes, any attempts to reduce the mortgage interest deduction would not only have deleterious effects on homeownership, but also be tantamount to taking the first step toward wholesale elimination of this long-standing deduction,” the letter states.

The letter also asks the public to visit www.KeepTheMID.com to learn how they can contact their member of Congress and ask them to protect the mortgage interest deduction.

Please read the letter from the CAR President Don Faught.

Diane Gallagher is the president of the Lodi Association of Realtors and can be reached at larpres2012@yahoo.com.

Rules of Conduct

  • 1 Use your real name. You must register with your full first and last name before you can comment. (And don’t pretend you’re someone else.)
  • 2 Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually oriented language.
  • 3 Don’t threaten. Threats of harming another person will not be tolerated.
  • 4 Be truthful. Don't lie about anyone or anything. Don't post unsubstantiated allegations, rumors or gossip that could harm the reputation of a person, company or organization.
  • 5 Be nice. No racism, sexism or any sort of -ism that is degrading to another person.
  • 6 Stay on topic. Make sure your comments are about the story. Don’t insult each other.
  • 7 Tell us if the discussion is getting out of hand. Use the ‘Report’ link on each comment to let us know of abusive posts.
  • 8 Share what you know, and ask about what you don't.
  • 9 Don’t be a troll.
  • 10 Don’t reveal personal information about other commenters. You may reveal your own personal information, but we advise you not to do so.
  • 11 We reserve the right, at our discretion, to monitor, delete or choose not to post any comment. This may include removing or monitoring posts that we believe violate the spirit or letter of these rules, or that we otherwise determine at our discretion needs to be monitored, not posted, or deleted.

Welcome to the discussion.

New energy program helps homeowners

The Lodi Association of Realtors in partnership with the California Association of Realtors Housing Affordability Fund and green home contractor Greener Solutions has just announced a new energy program starting Jan. 1, 2015.

Posted: January 23, 2015
Comments (0)
more »

Loan Calculator

Your News

News for the community, by the community.

Mailing List

Subscribe to a mailing list to have daily news sent directly to your inbox.

  • Breaking News

    Would you like to receive breaking news alerts? Sign up now!

  • News Updates

    Would you like to receive our daily news headlines? Sign up now!

  • Sports Updates

    Would you like to receive our daily sports headlines? Sign up now!

Manage Your Lists