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Real Estate Blog - Reason #4---Mortgage Interest is Tax Deductible

Real Estate Blog - Reason #4---Mortgage Interest is Tax Deductible

This is a discussion on Real Estate Blog - Reason #4---Mortgage Interest is Tax Deductible within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Yep, bmortgage/b interest is tax deductible on your personal income taxes. Compare that with credit cards, auto loans, RV loans, ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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12-03-2008, 01:55 PM

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Real Estate Blog - Reason #4---Mortgage Interest is Tax Deductible

Yep, bmortgage/b interest is tax deductible on your personal income taxes. Compare that with credit cards, auto loans, RV loans, and even personal loans and the advantage still goes to the bmortgage/b loan. Why would you pay 18% interest on b.../b

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