Also, your credit score drops if you pay all your debts
Also, your credit score drops if you pay all your debts
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171 comments
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Keeping a mortgage is also used as a tax write off. So a lot of people who could afford to pay off their homes don't because of that as well.
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I'd like to see the math on that.
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That’s because it’s generally false. It’s only correct under certain circumstances like being in the house flipping game, etc. and likely requires you to have a tax lawyer.
Paying a mortgage generally costs more than the deduction.
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Doesn’t everything cost more than the deduction unless the tax is more than 100%?
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You’d think.
But it gets weird when you are doing a lot of business because other factors come in that DO NOT APPLY to normal homeowners.
That’s the only reason I qualified with any exception which is the inverse of what op was doing.
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171 comments