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Posts Tagged ‘Capital Loss Deduction’

Congress Should Extend a Helping Hand to Homeowners

February 12th, 2010

by and

This piece was originally published in Roll Call.

The past two years dealt a punishing blow to the personal wealth of millions of middle-class homeowners. Amid rising foreclosures and plummeting home values, Americans lost more than $4 trillion in home equity. Ten million American households — or more than 1 in 5 homeowners — are currently “under water,” owing more on their mortgages than what their homes are worth. Millions more have lost the equity they were counting on to send their kids to college, save for retirement or to have as a nest egg for emergencies.

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