A group of 20 low-income-housing advocacy organizations is lobbying federal officials to apply any savings generated by eliminating the mortgage interest deduction to addressing affordable housing.

"There is an acute shortage of housing for the people in the low wage work force and for people with disabilities and seniors who live on fixed incomes…This shortage is the single most important reason why homelessness persists in our country," the groups wrote in a letter to the Obama administration. "We urge that a portion of the savings that will be achieved by changing the mortgage interest deduction be used to address the long standing unmet housing needs of low income Americans."

Similar letters were sent to both houses of Congress. The coalition includes the National Alliance to End Homelessness, the National Housing Trust and the Council of Large Public Housing Authorities.

Low Income Housing Groups Demand Mortgage Interest Deduction Savings Go To Housing

by Banker & Tradesman time to read: 1 min
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