Of course all American taxpayers, and their grandchilren will be paying for your (and lots of others) mistakes.So although all of us on this site claim to be pure capitalists, we will be happy participants in the SOCIALIZATION of the mistakes of people who spend more time researching the purchase of a $20K automobile than a $200K house!

You could lose your job or have something else happens that makes the equity very difficult to tap into.If you are thinking to sell now, pay the tax, pay off the home, save and then start investing in RE it seems to be a very indirect way to get to the goal.

I have a couple things you should think about (and maybe respond with answers about):[list]What do you get in return for making those house payments and tax payments?

Plus I had the liber records and the check numbers of property tax payments made by the bank.

Point: Property in some cases is not actually sold, but rather the taxes are being paid to the County on behalf of the delinquent tax-payer.

If you are a cash basis taxpayer, you do not report uncollected rent.

The Internal Revenue Service announced tax relief for Southern California taxpayers in the Presidential Disaster Area struck by severe wildfires beginning on Oct. 21, 2007.

I'm envisioning coasters made from newly printed taxpayer dollars, daily lunch specials like Pork sandwiches, and free upside-down "house" margaritas for homeowners that bought in 2006.

You can only print worthless pieces of paper (based on nothing except the INABILITY of the government to endlessly tax the taxpayer) for so long, especially when you're on a decades-long hand-out spending spree for every loser that is too lazy to work.

Tenant shall pay to Landlord along with rent, any sales or use tax payable to any governmental authority.