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2012 Budget Could Limit Mortgage Interest Deduction

2012 Budget Could Limit Mortgage Interest Deduction

By RealtyTrac Staff
While President Obama’s proposed 2012 budget plan doesn’t specifically target the mortgage interest deduction by name, many believe it could be collateral damage from the 30 percent reduction in itemized deductions on income taxes — which the budget said is necessary to pay for a “three-year patch to prevent an increase in taxes on middle-class families through the Alternative Minimum Tax (AMT). Complete Story

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