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Real Estate
Reply to "The seven paths to DC-area home ownership"
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[quote=Anonymous]See the previous poster for details, but here is how I look at it. Your total payment is PITI (principal, interest, taxes and insurance). On our 4k mortgage, we have another 700 in taxes and insurance. Basically, the way the deductions work is that although I pay PITI each month, so 4700, I get a refund at the end of the year worth about 700 each month. So instead of comparing 4700 (my monthly payment) to rental cost, I should actually be comparing 4k to rental cost. The taxes and insurance are refunded to me. [/quote]
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