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benefits of mortgages and advice

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Icon Mini Profile sia101009





Joined: 10 Oct 2009

Posts: 17

0.06 Dollars($)
Post Posted: Wed Oct 28, 2009 10:01 am    Post subject: benefits of mortgages and advice
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Icon Mini Profile mailboxofarjun





Joined: 27 Jul 2009

Posts: 14

4.62 Dollars($)
Post Posted: Wed Oct 28, 2009 10:37 am    Post subject:
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I am in same boat as myself,
advantages:
1) tax credit
2)tax deduction on interest
3) current low rate
4)you will get your own home
disadvantages:
1)you need to pay mortgage higher than rent
2)you cannot move for job purpose(big disadvantage)
3)you will have debt for life( assuming you are owning home around 25-30 yrs)
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