Quote:
Originally Posted by creditcardfree
Second mortgage has much higher interest rate and is only deductible and if I remember right student loan interest lowers your adjustable income dollar for dollar...so better at tax time, right?
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Unfortunately, there's an income limit for deducting SL interest. The last I remember it was around $130k, so these folks likely don't qualify.
Still, I still think the 2nd mortgage interest rate is higher, even when adjusted for being deductable.