Families who are not wealthy, rarely purchase a home with 20%+ in equity at the time of purchase. Therefore, those families must pay $1000's per year in Mortgage Insurance or PMI.
This cost is tax deductible through 2013. In 2014, lower and middle class families will suffer a loss of $1000's in deductions, raising their tax bill and affecting their ability to buy or keep a house.
Homeownership is widely considered a cornerstone of success in America. When families are buying homes, the economy thrives.
Keep the economy and American families healthy. Renew the Mortgage Insurance Tax Deduction!