I forgot to do a little more math on the deduction question as posed by Rodger (Ironworks).
If the guy was making 100K -- and NO interest deduction -- and for our purposes we'll put him in the 28% bracket... so he has a tax due bill of 28K....
But had he had at 25K interest deduction -- he has a 75K income - but may only be at 22% now... so owes 17.5K tax due.... there's a 10K "savings" in taxes...
But he's paying 2K per month on a house payment... but now if you subtract the 10k savings -- he's only paying 14K (per year) or about 1200 a month...
This all becomes even "more" at larger income levels... so it all 'depends'.
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