Deducting Mortgage Interest

One of the best justifications for owning a home, at least for financial reasons, is the tax savings that result from . The deduction for mortgage interest stands as one of the few remaining for the typical middle class taxpayer. Despite the changes to the tax code over the past several years and the repeal and limitation of many non-housing itemized deductions, mortgage interest is still deductible. On first and second mortgages and home equity lines of credit (with some limitations) for first and second homes, your mortgage interest deduction is still a good financial incentive to buy a home. Full Article »

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