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Smart Money Moves to Make by Age 50
The issue of the tax benefits associated with a mortgage usually comes up when people are faced with the decision of paying that loan off ahead of schedule. “I've always said not to let the tax tail wag the dog,” says Aric Jacobson, a certified financial planner in the San Diego, Calif., area. “There certainly can be a big incentive to keep that nice mortgage interest deduction going. But we are talking about debt. The higher the interest rate, the stronger the argument for paying the debt off sooner.”
Source: AARP News