Is the Home Mortgage Tax Deduction Worth It?

When you have a mortgage (or a second mortgage), you can often deduct interest that you paid. While deductions are good, the mortgage interest tax deduction is not always as powerful as we'd like. A recent article on Blueprint for Financial Prosperity claims that mortgage interest deductibility is not that great. The author and site readers share how the deduction has or hasn't helped them. Make sure you're being realistic while you make decisions about deductible interest.

Further reading:

• How the Home Equity Loan Tax Deduction Works
• Buy or Rent?
• Taxes at About.com