WASHINGTON, D.C. – October 17, 2013 – (RealEstateRama) — The United for Homes campaign has released a two-minute video titled “The Solution.” The animated video explains the nationwide shortage of affordable housing, and how the campaign proposal to fund the National Housing Trust Fund through modifications to the mortgage interest deduction would help end homelessness in America.
Watch “The Solution” at www.unitedforhomes.org/video.
- Today, there is a nationwide shortage of 7.1 million rental homes that are affordable and available to extremely low income households. This is why people are homeless in our country.
- Once funded, the National Housing Trust Fund would address the shortage by providing states with funding to expand the supply of affordable rental homes.
- The United for Homes proposal to modify the mortgage interest deduction would create almost $200 billion in revenue over ten years that could be used to fund the National Housing Trust Fund.
- The United for Homes campaign proposes to reduce the size of a mortgage eligible for a tax break to $500,000, and convert the mortgage interest deduction to a 15% non-refundable tax credit.
- The proposal benefits renters and homeowners. Under the United for Homes proposal, 16 million more homeowners would receive the tax break, 99% who would be low and middle income homeowners (households with incomes less than $100,000 a year).
- More than 1,250 national, state, and local organizations and local governments have endorsed the United for Homes campaign.
About United for Homes
United for Homes is the campaign to fund the National Housing Trust Fund with revenue raised from modifications to the mortgage interest deduction. Over 1,250 national, state, and local organizations have endorsed the United for Homes campaign.
Established in 1974 by Cushing N. Dolbeare, the National Low Income Housing Coalition is dedicated solely to achieving socially just public policy that assures people with the lowest incomes in the United States have affordable and decent homes.
Sarah Brundage Communications Director (202) 662 1530 x246