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 > 

• NAR Federal Issue Summary: Mortgage Interest Deduction
• NAR Asks Lawmakers to Cosponsor MID Resolution (Jan. 13, 2011) - A letter to Congress asks representatives to cosponsor H.Res. 25, a resolution that affirms the importance of the mortgage interest deduction and urges retention of current law. Download the letter > 
• IAR President defends MID in Chicago Tribune (Jan. 6, 2011) - In this letter to the editor, "Congress should spur home ownership," IAR President Sheryl Grider Whitehurst defends the mortgage interest deduction as a powerful tool and incentive for homeownership. 
• 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: