Many people have differing opinions on renting or owning their place of residence. In reality, most people have an opinion based on the specific circumstances they have lived through. When I was much younger, I vowed to never rent because I felt it was a waste of money. Why would I pay off another persons mortgage when I could get a loan myself? Let me give you a little insight as to how that viewpoint punched me right in the face.
Don’t pay your mortgage off early, you need your mortgage for a tax write off!
How many times have you heard that you should not pay your home mortgage off because you won’t be able to write off the interest on your yearly taxes? Maybe you’re one of those people who have said this. If so, let’s do some simple math to prove or disprove the validity of this statement.