Does it Make Sense to Keep Your Mortgage For Tax Deductions? – Family Budgeting

Many ways you can make money when you are aware of what you are doing. Perhaps you’ve seen videos that explain what you can do to get your mortgage paid off. The tax benefits are greater if you take advantage of tax deductions by keeping your mortgage , rather than investing in money that would be used to settle your mortgage. While this may be the right idea but the math does not work out. This video will help you understand what makes it mistake.

Construction of a new home will cost you a pretty penny. Actually, every home may require you to borrow money. This could cause problems down the line as you require a continual payment of regular payments. This is easily avoided if regular payments are made as well as the mortgage is paid off early. This will allow you to save cash. The problem with the notion that you can save your mortgage money for tax deductions is the fact that most people take the standard deduction instead of the deductions that are itemized. Additionally, there are bound to unanticipated expenses, and many don’t find enough funds to invest an additional amount of money.


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