coxta
Ultramundane
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join:2000-07-15
LALALALALALA
 ·Pacific Bell - SBC
| reply to nightdesigns
Re: Homeowners: Mortgage Interest, Property Tax & Uncle Sam
If you don't amortize the points over the life of the loan, they are deductible the first year in full. The interest is deductible, and taxes are deductible. I couldn't say whether or not you would get a refund. I never have. I don't think owning a home is a great deal, tax-wise, there is some subsidy by the government, but it's not as much you most make it out to be. The benefit is having some control over your life by having some autonomy and by building equity. It can be either a place of your own, or an investment.
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