Live off a loan instead of income....

[Pixel Rogue]

Recently started catching a thread where one could take out a loan for living expenses, in essence covering cost of living yet having little-to-no reportable income...plus a bonus where interest paid is tax deductible. Interest on a mortgage (and yes, this would have been written when rates were lower) are lower than the tax bracket, even if we are talking capital gains.

Anyone here doing this? I'm interested in better understanding the play through back to payback. Some articles state this is a two year activity, paying back at the end of two years, new loan. Imagine if you get a great rate you'd want longer than 2 years. Many questions.