A Quote by Matthew Desmond

All homeowners in America may deduct mortgage interest on their first and second homes.

Matthew Desmond

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America First Homeowners Homes Interest May Mortgage Second Second Home

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Matthew Desmond
American - Sociologist

Mortgage is one of the most popular deductions. It costs the Treasury about $103 billion a year. Now that's money we could use to treat wounded veterans or reduce the deficit or fill the border. Instead, we give it a subsidy to homeowners, and it goes mainly to the richest homeowners in America, because only one third of Americans itemize their deductions. It doesn't work. Many countries have gotten rid of the mortgage interest deduction. Almost all of them have higher homeownership rates than we do.

T.R. Reid

Owning your own home is America's unique recipe for avoiding revolution and promoting pseudo-equality at the same time. To keep citizens puttering in their yards instead of sputtering on the barricades, the government has gladly deprived itself of billions in tax revenues by letting home owners deduct mortgage interest payments.

Florence King

In a forbearance, the homeowner pays interest and principal on a smaller mortgage, at least for a time, but still owes the full amount. The lower monthly payment helps with affordability, giving stressed homeowners a break.

Mark Zandi

They put the Jewish interest above America's interest and it's about goddamn time that the Jew in America realizes he's an American first and a Jew second.

Richard M. Nixon

There is no better way to quickly buoy hard-pressed homeowners than helping them take advantage of the currently record low fixed mortgage rates and significantly reduce their monthly mortgage payments.

Mark Zandi

A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage-market financed withdrawals of home equity in recent years.

Alan Greenspan

Corporations can deduct their planes, all their office expenses, their machinery, their computers and Teleprompters and whatever else they have. They can deduct their yachts, they can deduct their limousines, their planes, everything.

Malachy McCourt

I rescue families who are losing their homes because they have no jobs and they can't pay the mortgage and the banks are foreclosing on their homes.

will.i.am

Unfortunately, throughout the housing crisis we've seen innocent homeowners who have been victims of shady mortgage lenders and unscrupulous individuals who have used a down market to line their own pockets at the expense of others. This bill is designed to send a message by revising our laws to ensure criminals are brought to justice and that law enforcement has the tools to uncover these fraudulent schemes and go after the bad actors. Criminals should be put on notice that ripping off homeowners and taxpayers won't be tolerated.

Chuck Grassley

Money is created through bank debt. When you go for a mortgage through a bank, they give you $100,000 to buy a house and basically send you out into the world to bring back $200,000 in the next twenty years. The first $100,000 is principal, and the second is interest.

Bernard Lietaer

For many people, the mortgages they took out before 2008 are so high that they would be better off walking away from their houses. That is called "jingle mail," returning the keys to the bank and saying, "You can have the house. I can buy the house next door that's just like this for 20% less, so I'm going to save money and switch." That's what someone like Donald Trump or a real estate investor would do. But the banks are trying to convince the mortgage debtors, the homeowners, not to act in their own self-interest.

Michael Hudson

The worst loophole is what Donald Trump has talked about: the tax deductibility of interest. If you let real estate owners or corporate raiders borrow the money to buy a property or company, and then pay interest to the bondholders, you'll load the company you take over with debt. But you don't have to pay taxes on the profits that you pay out in this way. You can deduct the interest from your tax liability.

Michael Hudson

There is first the literature of knowledge, and secondly, the literature of power. The function of the first is--to teach; the function of the second is--to move, the first is a rudder, the second an oar or a sail. The first speaks to the mere discursive understanding; the second speaks ultimately, it may happen, to the higher understanding or reason, but always through affections of pleasure and sympathy.

Thomas de Quincey

First, pay off your high-interest-rate debt. If you have student loan debt - that's low interest rate; that has a tax benefit - you can leave that out. A mortgage can be an OK one. Credit card debt is poison. That needs to be paid off right away.

Sallie Krawcheck

The decline in home equity makes it more difficult for struggling homeowners to refinance and reduces the financial incentive of stressed borrowers to remain in their homes.

Ben Bernanke

America may be a fallible democracy. But when the president sacrifices the national interest for his personal interest, we can show that unlike other countries, we have a remedy.

Tom Malinowski

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