Touring realtors make stop in SC to spread message - Myrtle Beach Sun News

State and national Realtor association members are making a nationwide bus tour to alert the public to the proposed changes and urge them to contact their lawmakers. Realtors What do Realtors want to accomplish with the bus tour. State and national Realtor association members are making a nationwide bus tour to alert the public to the proposed changes and urge them to contact their lawmakers. But there has been no boom, not even a boomlet, to light a candle in the gloom of the housing collapse. Higher down payments could stifle home sales " tooltipId="mi_tt3"> Higher down payments could stifle home sales Higher down payments could stifle home sales Can you come up with $36,000, cash. Does debt deal put mortgage-interest deduction in play. Does debt deal put mortgage-interest deduction in play. With this bus tour, Realtors hope to give people the opportunity and the resources to make their voices heard. Why is the mortgage interest deduction so important and how is it threatened. 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. Mortgage interest on up to $100,000 of debt on home equity loans or lines of credit also qualifies for the deduction. Individuals with incomes below $250,000 would generally not be directly affected by this proposal. While only about 30 percent of all taxpayers in any given year itemize their deductions, more than three-fourths of homeowners utilize the deduction over the period they own their home. According to NAR research, eliminating the deduction would cause a 15 percent decline in the value of homes across the nation. In high-cost areas, that impact would be greater, while in lower-cost areas the effect would be more modest. Realtors believe the proposal would have (an) adverse impact on housing values and the pace of economic recovery. Even with the current higher limits, borrowers are finding it more and more difficult to obtain affordable mortgage financing. Making the current limits permanent at levels appropriate in all parts of the country will provide homeowners and homebuyers with safe, affordable financing and help stabilize local housing markets. Readers are required to adhere to all commenting policies, and must avoid commenting behavior such as personal attacks, libelous posts or inappropriate remarks. Users in violation of The Sun News' commenting policies can have their comments blocked, removed, and/or ultimately see their account banned from the site. Registered user names will be posted with comments.