On 7/24/2011 9:46 AM, John H wrote:
On Sun, 24 Jul 2011 09:32:33 -0400, Florida wrote:

On 7/24/2011 9:12 AM, John H wrote:
On Jul 23, 8:58 pm, wrote:
On 7/23/11 7:55 PM, LilAbner wrote:

On 7/23/2011 7:45 PM, John H wrote:
http://tinyurl.com/3r5l8ur
I wonder if the Democrats realize that it doesn't take a 'yacht' to
have a head, stove, and bed.
Hell, I had that in my 21' Proline.
If they want to do away with a second home mortgage interest
deduction, then do it for *all* second
homes.
All boats and all second homes over a certain value...that'll do it.
Why not *any* qualified second home?
Why give mortgage interest deductions at all? Before you know it renters
will want deductions too, and section 8, and why just a second home?
some poor folks have multiple homes. What about those folks that have 0
interest loans. It's not fair that they don't get a deduction.
That's not the point of this discussion, but it is a good point. I'd have no problem with taking
away the mortgage interest deduction, if they grandfathered, somehow, those who bought their homes
with that deduction as part of their ability-to-pay calculation. My daughter couldn't afford to stay
in her house without the mortgage interest deduction, for example.

If a person has a zero-interest mortgage, then they weren't planning on the deduction in their
ability-to-pay calculations.

Why just a second home? Maybe even the rich congressfolk that dreamed up the deduction couldn't go
so far as to make it available for their sixth home, or whatever.
For people living near the edge there seems to be a mandatory government
ruling or law that forces mortgage holders to rewrite mortgages at a
more favorable rate. I remember hearing about it but I really don't know
any of the details. Perhaps you could look into it for your daughter.

OhBama really wants to help struggling Americans.