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Real Estate
Reply to "Gonna sell and buy somewhere cheap and have $0 mortgage"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]0 mortgage may seem attractive but then you don't get the deduction for interest paid. Just factor that in too.[/quote] I think OP would rather pay $0 in mortgage interest than pay $1000 a month in mortgage interest and get $250-$300 of it back as a tax deduction.[/quote] agree[/quote] I agree as well. I always shake my head when people say that they "need" a mortgage due to the tax deduction. I have a friend who will have her house paid off this May and she was talking about the loss of tax deduction as if that was a bad thing. I just looked at her and commented "but you won't have that pesky monthly mortgage". I cannot wait to have my house paid off! We are paying as much as we can each month in the hopes that it will be paid off right as our oldest goes to college.[/quote]
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