Dear Dr. Don,
I still owe $100,000 on my house at an interest rate of 5.88 percent. I would like to pay off the mortgage, but people keep insisting that I shouldn’t because I’ll lose the mortgage interest deduction.
Do I really save money in the end? I’m in the 25-percent bracket. I feel I could save more by just paying it off and then saving the mortgage payment. The loan is for 15 years. How long can (more…)
Posts Tagged ‘Savings’
Mortgage deduction savings exaggerated
Wednesday, April 1st, 2009Tags: deduction, exaggerated, mortgage, Savings
Posted in Today's stories | No Comments »