saversaba08
I'm to the point in my mortgage where in 2008 I believe that my itemized deductions (morgage interest, property tax) will be less than the standard deduction. In 2007 we were just barely over the standard deduction. On the one hand, it hurts to know we pay more in taxes than other people but on the other hand, I guess I'm happier to be paying taxes than to be paying interest. I've considered the idea of buying a better, more expensive house (and thus more interest on the mortgage) but it just doesn't make sense to pay more interest so that I can deduct 25% of that for taxes and it just doesn't make sense to buy something beyond what I am comfortable paying on a monthly basis.
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