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them much better positioned than their small and midsize counterparts to acquire expensive parcels and then pay the first republic mortgage 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 mortgage 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 local property taxes from the federal first republic mortgage Sheila Crowley, president of exclude first republic mortgage
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