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New help for home ownership? Ventura County congresswoman proposes some tax breaks

Josh Oladle
/
Unsplash

Legislation aimed at helping working families get into home ownership.

Helping to make home ownership more affordable is the goal of a pair of bills introduced by a Ventura County congresswoman. They would create some additional tax breaks for some homeowners.

One of the bills would make permanent the deduction for mortgage insurance premiums. This would help families who are trying to buy a home, but don’t have the required 20% down payment.

The second bill would allow taxpayers to get tax relief from income from the discharge of debt on their primary home. It includes debt reduced from refinancing a mortgage, as well as mortgage debt forgiven in connection with a foreclosure.

Democratic Congressman Julia Brownley of Westlake Village introduced the legislation, which she says will helping working families trying to become homeowners.

Lance Orozco has been News Director of KCLU since 2001, providing award-winning coverage of some of the biggest news events in the region, including the Thomas and Woolsey brush fires, the deadly Montecito debris flow, the Borderline Bar and Grill attack, and Ronald Reagan's funeral.