Scaling back the mortgage interest deductions???

[Tom Chen]

Great...just as I'm STARTING to invest, there are rumblings of limiting the deductions???

Anyone think this will actually come to pass?

Mortgage Tax Deduction Limits?

[Steve Vaughan]

You're welcome @Tom Chen.  It being written by the LA Times seems appropriate.  It could affect a lot of homeowners in that area, but not by much.  Fear sells.  

Since rates have dropped so much, I haven't been able to deduct mortgage interest on my primary since 2012. It doesn't exceed my standard deduction.  Like that for a lot of folks.

I'm glad I was able to deduct hundreds of thousands paid in investment mortgage interest over the years, but I don't keep debt for that 'benefit'.  Send me $10,000 and I'll return $3,000 back to you anytime.  

The ROI on the mortgage interest deduction is -300%! You can get the same return by donating to charity, but you'll be doing good out there. Don't keep debt for the tax benefits!