Mortgages 101 Quotes

“The interest and property taxes associated with a mortgage are generally tax deductible. You can deduct them from your gross income when you file your taxes. With rent, you can’t.”
― David Reed, Mortgages 101: Quick Answers to Over 250 Critical Questions About Your Home Loan

“If you rented, you paid someone else $24,000. But if you owned and itemized your federal income taxes, you likely deducted over $10,600 in mortgage interest on your income taxes. You also paid your loan down by over $4,000 while at the same time increasing your equity position in the house by nearly $20,000.”
― David Reed, Mortgages 101: Quick Answers to Over 250 Critical Questions About Your Home Loan