At what point does is it better to keep the mortgage and benefit from the tax deduction of the interest paid.
1. My income bracket is the 25%
2. My mortgage is 5% fixed and total monthly payments started at $1694/month including I, P, and escrow
3. Is it better to just pay if off asap or invest the money and use the interest paid as deduction.
4. I have two kids, which expenses also count as deductions
5. I probably spend over $12,000 a year on interest only
SUGGESTIONS PLEASE.
THANK YOU.
1. My income bracket is the 25%
2. My mortgage is 5% fixed and total monthly payments started at $1694/month including I, P, and escrow
3. Is it better to just pay if off asap or invest the money and use the interest paid as deduction.
4. I have two kids, which expenses also count as deductions
5. I probably spend over $12,000 a year on interest only
SUGGESTIONS PLEASE.
THANK YOU.