Comments on: How Much Are You Really Saving with the Mortgage Interest Deduction? http://www.nodebtplan.net/2010/07/12/how-much-are-you-really-saving-with-the-mortgage-interest-deduction/#utm_source=rss&utm_medium=rss&utm_campaign=how-much-are-you-really-saving-with-the-mortgage-interest-deduction A personal finance blog teaching you how to live debt free and use credit wisely. Fri, 10 Feb 2012 15:18:07 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jerrod Donahoehttp://www.nodebtplan.net/2010/07/12/how-much-are-you-really-saving-with-the-mortgage-interest-deduction/#comment-158144 Jerrod Donahoe Tue, 05 Jul 2011 02:37:17 +0000 http://www.nodebtplan.net/?p=4770#comment-158144 Thank you for this publish, I've been always on the lookout for this useful articels all over but could not find full information supplied here. thank you. and I will simply reference a few of you words . Thank you for this publish, I’ve been always on the lookout for this useful articels all over but could not find full information supplied here. thank you. and I will simply reference a few of you words .

]]> By: Kymhttp://www.nodebtplan.net/2010/07/12/how-much-are-you-really-saving-with-the-mortgage-interest-deduction/#comment-115042 Kym Wed, 29 Sep 2010 23:44:01 +0000 http://www.nodebtplan.net/?p=4770#comment-115042 If only I lived somewhere with houses so cheap! Houses out here in SoCal don't even start at 200k. For me, the main reason I would be interested in taking the deduction on the interest would be to better compare it to my rent - if the deduction means that my $4500 monthly mortgage payment really turns out to be more like $3000 after deductions, well that makes quite a difference in how affordable the place is. Trying to get into any house here without large gifts of money is pretty much impossible until you've had a decade or so to save, so the deduction might mean being able to buy in 4 more years instead of the 6 years it will take me right now. If only I lived somewhere with houses so cheap! Houses out here in SoCal don’t even start at 200k. For me, the main reason I would be interested in taking the deduction on the interest would be to better compare it to my rent – if the deduction means that my $4500 monthly mortgage payment really turns out to be more like $3000 after deductions, well that makes quite a difference in how affordable the place is. Trying to get into any house here without large gifts of money is pretty much impossible until you’ve had a decade or so to save, so the deduction might mean being able to buy in 4 more years instead of the 6 years it will take me right now.

]]> By: It’s a HOT! Rounduphttp://www.nodebtplan.net/2010/07/12/how-much-are-you-really-saving-with-the-mortgage-interest-deduction/#comment-105323 It’s a HOT! Roundup Sun, 25 Jul 2010 22:42:04 +0000 http://www.nodebtplan.net/?p=4770#comment-105323 [...] How Much Are You Really Saving with the Mortgage Interest Deduction? [...] [...] How Much Are You Really Saving with the Mortgage Interest Deduction? [...]

]]> By: Petuniahttp://www.nodebtplan.net/2010/07/12/how-much-are-you-really-saving-with-the-mortgage-interest-deduction/#comment-102588 Petunia Wed, 14 Jul 2010 17:04:03 +0000 http://www.nodebtplan.net/?p=4770#comment-102588 I followed the link to your blog from MSN Money. Like the blog, glad Golfing Girl posted the link. I'm always looking for a new blog to follow. I have to say, I've been posting on MSN Money for years and I've never once seen anyone suggest one can get rich deducting mortgage interest. I have seen many times the suggestion that if you can borrow money at 5% and invest it earning 10%, that is very good for your bottom line. Personally, I think the key to most things in life is balance. So I prepay my mortgage some, save some, and invest some. I followed the link to your blog from MSN Money. Like the blog, glad Golfing Girl posted the link. I’m always looking for a new blog to follow.

I have to say, I’ve been posting on MSN Money for years and I’ve never once seen anyone suggest one can get rich deducting mortgage interest. I have seen many times the suggestion that if you can borrow money at 5% and invest it earning 10%, that is very good for your bottom line.

Personally, I think the key to most things in life is balance. So I prepay my mortgage some, save some, and invest some.

]]> By: Deehttp://www.nodebtplan.net/2010/07/12/how-much-are-you-really-saving-with-the-mortgage-interest-deduction/#comment-102540 Dee Wed, 14 Jul 2010 06:53:04 +0000 http://www.nodebtplan.net/?p=4770#comment-102540 Thanks for the break down. I think you framed it in a simple enough way that people can see that the deduction isn't always as great as some make it out to be. Thanks for the break down. I think you framed it in a simple enough way that people can see that the deduction isn’t always as great as some make it out to be.

]]> By: Kevinhttp://www.nodebtplan.net/2010/07/12/how-much-are-you-really-saving-with-the-mortgage-interest-deduction/#comment-102510 Kevin Wed, 14 Jul 2010 03:06:29 +0000 http://www.nodebtplan.net/?p=4770#comment-102510 Ha! I saw some visitors coming in from that. Appreciate the link. We'll see on Thursday how much your mortgage needs to be, plus some other factors to consider. Ha! I saw some visitors coming in from that. Appreciate the link. We’ll see on Thursday how much your mortgage needs to be, plus some other factors to consider.

]]> By: Kevinhttp://www.nodebtplan.net/2010/07/12/how-much-are-you-really-saving-with-the-mortgage-interest-deduction/#comment-102509 Kevin Wed, 14 Jul 2010 03:06:00 +0000 http://www.nodebtplan.net/?p=4770#comment-102509 Thanks. Obviously if you have a huge mortgage and a huge interest rate then the deduction comes into play. I'll have something up on Thursday about that. Thanks. Obviously if you have a huge mortgage and a huge interest rate then the deduction comes into play. I’ll have something up on Thursday about that.

]]> By: Golfing Girlhttp://www.nodebtplan.net/2010/07/12/how-much-are-you-really-saving-with-the-mortgage-interest-deduction/#comment-102390 Golfing Girl Tue, 13 Jul 2010 15:35:56 +0000 http://www.nodebtplan.net/?p=4770#comment-102390 Thanks for running those numbers. I can't wait to post a link on the MSN Money Message boards--there are a lot of "you're stupid for prepaying your mortgage" folks and "you'll get rich from deducting the interest on your home so mortgage away!" types. :) Thanks for running those numbers. I can’t wait to post a link on the MSN Money Message boards–there are a lot of “you’re stupid for prepaying your mortgage” folks and “you’ll get rich from deducting the interest on your home so mortgage away!” types. :)

]]> By: Darwin's Moneyhttp://www.nodebtplan.net/2010/07/12/how-much-are-you-really-saving-with-the-mortgage-interest-deduction/#comment-102336 Darwin's Money Tue, 13 Jul 2010 04:10:18 +0000 http://www.nodebtplan.net/?p=4770#comment-102336 It's great that you broke it down this way. 99% of people out there wouldn't look at it this way. Especially for the lower borrowed amounts, there's not the benefit they may have thought when factoring in std deduction. It’s great that you broke it down this way. 99% of people out there wouldn’t look at it this way. Especially for the lower borrowed amounts, there’s not the benefit they may have thought when factoring in std deduction.

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