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Politics : Formerly About Advanced Micro Devices
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To: PKRBKR who wrote (1088105)9/13/2018 6:25:47 PM
From: J_F_Shepard  Read Replies (1) of 1580171
 
Me thinks you should look at how quickly the principle of a mortgage is paid off....you do the search and I think you'll find that you don't begin to make a serious dent in the principal until you have about 5 years left on the loan.......in the meantime for most of those 30 years you get about a 30% tax deduction on your mortgage payment for mortgage interest.... eg buy a house for 300K and get a 100K deduction each year... don't get the deduction and you can only afford a 200K house.. And about 65% of dwellings have mortgages on them.
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