REALTOR? Legislative Meetings on the Nation's Capitol

FOR IMMEDIATE RELEASE

Media Contact:

Nita Wingard

[email protected]

601-714-1024

Central Mississippi REALTORS^? Converge on the Nation's Capital

Jackson, MS (May 21, 2015) - Realtors^? and leaders from Central Mississippi REALTORS? joined nearly 8,500 other guests from across the country in Washington, D.C., last week to attend the 2015 Realtor^? Legislative Meetings & Trade Expo.

While in the nation's capital, local participants met with Senators Steven Palazzo, Roger Wicker, Gregg Harper, Thad Cochran and their appointed staff on Capitol Hill to ensure qualified buyers and investors in the Jackson Metro Area have access to safe and affordable mortgage financing and protect and advance real estate-related policies.

"Attending the Realtor^? Legislative Meetings & Trade Expo offers Realtors^? an opportunity to meet face-to-face with decision makers and be heard on the issues that affect the industry and consumers' ability to buy, sell and invest in real estate," said Carol Stewart, CMR President. "While meeting with lawmakers, regulatory officials and industry executives last week, Realtors^? urged support for the issues that are most important to the industry, communities and the clients that we serve."

REALTOR Larry Edwards (right)

Realtors^?' meetings with Senator Thad Cochran focused on important residential and commercial real estate issues to homeowners and investors here in Jackson, including the amendment of the law dealing with the 5% tax on gross proceeds realized by an out of state seller, as well as extending the Mortgage Forgiveness Tax Relief Act, which expired at the end of 2014 and prevents distressed homeowners from facing excessive income tax bills on forgiven home loan debt.

Realtors^? also urged lawmakers to protect commercial real estate related tax provisions, such as retaining like-kind exchange provisions and making permanent the 15-year depreciation period for leasehold improvements. In addition, Realtors^? advocated legislation to reform patent demand letters, set nationwide data security standards, and pass the Mortgage Choice Act to end discrimination against affiliated lenders.

"Realtors^? do so much more than list and sell properties. The discussions we had last week about greater access to safe credit, patent reform, mortgage debt forgiveness tax relief, and commercial real estate tax provisions will help advance policies that strengthen homeownership and property rights and make a positive difference for consumers and our industry," said Stewart.

National Association of Realtors^? President Chris Polychron, executive broker with 1^st Choice Realty in Hot Springs, Ark., praised Central Mississippi REALTORS? efforts to actively advance the real estate industry and provide a safe and affordable path to homeownership for Americans. "Homeownership and commercial investment help build strong communities and families. With the current policy debates underway in Washington, it's a critical time for Realtors^? to take action and help shape the future of real est ate," said Polychron.

About Central Mississippi REALTORS?

Central Mississippi REALTORS? represent the largest real estate association in the state of Mississippi serving more than 1600 licensed real estate professionals across ten counties of Central Mississippi (Hinds, Madison, Rankin, Yazoo, Holmes, Attala, Leake, Scott, Simpson and Copiah). To learn more, visit centralmsrealtors.org, or call 601.948.1332.

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