This Wednesday, the NAR Home Ownership Matters bus tour will be coming to the “City of Homes”, Springfield, Mass. to highlight several issues that are important to homeowners across Massachusetts and all of New England. The event will take place at 10:30 a.m. at Court Square in front of the Old First Church across the street from Springfield City Hall, 36 Court Street, Springfield, Mass. 01103. Read the advisory from NAR below:
WASHINGTON (August 29, 2011) – The threat posed by Hurricane Irene over the past few days has underscored the importance of a natural disaster policy and flood insurance program for homeowners across Massachusetts. These are just a few of the issues that could affect how Springfield residents and families throughout the state buy, sell and own homes today and into the future.
Realtor® Association of Pioneer Valley President Vincent M. Walsh and other Realtor® leaders will join Springfield Mayor Domenic J. Sarno and invited local officials to discuss these issues at a press conference on August 31.
Homeowners in the “City of Homes” are still rebuilding after the June tornado; they value the sense of community that comes from connection to a place that only homeownership can create. Toward that end, the U.S. must have a forward-looking national policy that protects property owners by ensuring that comprehensive and transparent insurance coverage is available and affordable across the country.
In addition, if Congress doesn’t act soon, the National Flood Insurance Program will expire on September 30, 2011, putting millions of homeowners at risk. This critical program is responsible for writing and renewing flood insurance policies for more than 5.6 million home and business owners in 20,000 communities.
Springfield homeowners may also soon find that a valuable benefit, the mortgage interest deduction, has been reduced or eliminated. Massachusetts is in the top 10 states with the highest share of tax returns claiming the MID. Last year, Massachusetts homeowners who benefited from the MID took an average of more than $12,000 in mortgage interest deductions. Attempts to reduce this important benefit could have a big impact on these Massachusetts families.
Wednesday’s press conference is part of NAR’s Home Ownership Matters Bus Tour. The bus is currently touring the country, giving people the opportunity and resources to make their voices heard about the housing issues that matter most to them. Ongoing news and information for the tour will be posted at www.houselogic.com/bus.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.
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Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section.