Senate Passes Sweeping Republican Tax Overhaul Bill

[Jer]

How many people actually ever pay off their 30 year mortgage? Most people move on average every 5 years, that means they pay for 5 years and then reset the clock.

Lots of people take handouts from the government that don't need them... that doesn't make it right.

Just because lots of people move every 5 years and/or take out a new note every 5 years doesn't make it wise financially.

In your scenario that 5 years paid on a 30 year mortgage will end up being nearly 100% interest the way it's amortized. Sure you can write some of that off (depending on income situation) but crunch the numbers on what interest is on 60 months @ roughly $2k per month and you end up with a pretty crazy number that you are paying to "rent" a home. Sure you can get some appreciation but you can also lose a lot of money in value too. Factor in realtor fees and you've got a whole lot of large #'s that aren't in your favor.

Don't even get me started on people who go out and refinance to "save money"on their mortgage ....eesh.

It's already been mentioned though that this is off topic. I referenced a post earlier with a short statement that was largely tongue-in-cheek that has spun off into a conversation that should be contained within a thread topic all it's own.

Just know that you don't HAVE to pay on a mortgage for 30 years and "getting the write-off" certainly isn't worth the true cost of money.

[Great-Kazoo]

Lots of people take handouts from the government that don't need them... that doesn't make it right.

Just because lots of people move every 5 years and/or take out a new note every 5 years doesn't make it wise financially.

In your scenario that 5 years paid on a 30 year mortgage will end up being nearly 100% interest the way it's amortized. Sure you can write some of that off (depending on income situation) but crunch the numbers on what interest is on 60 months @ roughly $2k per month and you end up with a pretty crazy number that you are paying to "rent" a home. Sure you can get some appreciation but you can also lose a lot of money in value too. Factor in realtor fees and you've got a whole lot of large #'s that aren't in your favor.

Don't even get me started on people who go out and refinance to "save money"on their mortgage ....eesh.

It's already been mentioned though that this is off topic. I referenced a post earlier with a short statement that was largely tongue-in-cheek that has spun off into a conversation that should be contained within a thread topic all it's own.

Just know that you don't HAVE to pay on a mortgage for 30 years and "getting the write-off" certainly isn't worth the true cost of money.

Is your mortgage paid off?

[Zundfolge]

Just because lots of people move every 5 years and/or take out a new note every 5 years doesn't make it wise financially.

Yeah, that was my point.