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re: Better to spend all of savings and be debt free or full of debt with lots of...
Posted on 4/16/13 at 1:37 pm to townhallsavoy
Posted on 4/16/13 at 1:37 pm to townhallsavoy
quote:Have you factored in your interest deduction from income taxes?
Problem here is that I would then have two $150k+ mortgages
1
Posted on 4/16/13 at 1:46 pm to LSURussian
quote:
Have you factored in your interest deduction from income taxes?
I haven't because I'm a child when it comes to understanding investments and interest and insurance and other adult things in finance.
What should I expect?
Current house has $167k left on mortgage. $950/month mortgage. Rent will be $1200/month, but all of the profit would go to a savings account in case we need to make repairs/unexpected expenses.
We'd be looking at a house $140k-$160k.
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