Monday, Oct 15 2012 5:12PM

Results from a poll conducted by the National Low Income Housing Coalition found that many Americans would prefer a tax credit rather than the current interest deduction for their mortgage, while most still agree more affordable housing options should be made available for renters.

According to the poll, 56 percent of those questioned said they are in favor of getting rid of the current mortgage interest deduction in exchange for a tax credit that would provide the same savings for homeowners regardless of their income. Additionally, two-thirds of respondents support a $500,000 mortgage cap for the proposed tax credit.

While some respondents are looking for ways to financially benefit from federal programs, affordable housing remains a major concern for many. Those surveyed agree that housing needs are not being addressed properly, as 69 percent say more federal programs are needed to build and renovate rental housing, and 59 percent reported programs are needed to help low-income families with their rent.

"The American public is ahead of policymakers on this issue. It is time to enact reforms that will stop the subsidy of million-dollar houses and use the savings to help middle and low income families who need it most," said Sheila Crowley, president and CEO of the National Low Income Housing Coalition.

For further information, check out this source: National Low Income Housing Coalition