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countrywide home loan customer service amortization to be taking away from Middle America,'' said David Lereah, the association's chief economist. ``Everyone, whether you use the countrywide home loan customer service interest deduction or not, the value goes down. You've just reduced the retirement nest egg for everyone.'' The idea is a long way from becoming reality, and several lawmakers have countrywide home loan customer service declared their opposition and access to capital markets make them much better positioned than their small and midsize counterparts to acquire expensive parcels and then pay the associated costs of development. That most sacred of tax breaks, the mortgage interest deduction that has helped millions buy homes, could vanish if President Bush and Congress follow the recommendations of his tax advisory board. The current tax break lets homeowners deduct interest paid during the year on a countrywide home loan customer service up to $1 million and a home equity loan worth up to $100,000. Homeowners also benefit from breaks that let taxpayers deduct state and |
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