Search found 2271 matches

by jimb_fromATL
Tue Jul 25, 2017 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Help with Amortization Schedule with Extra Payments
Replies: 33
Views: 3981

Re: Help with Amortization Schedule with Extra Payments

Thanks, jimb Here's the thing, I maxed out my 401K when it was a ROTH ($17,500 + $5,500). But then the company was sold and now we don't have a ROTH but an After Tax Plan with much higher max contribution (up tp $53K (I believe?)). I have increased my contributions from 16% to 18% already. But if I...
by jimb_fromATL
Mon Jul 24, 2017 11:27 pm
Forum: Personal Finance (Not Investing)
Topic: Chipping away at the mortgage
Replies: 48
Views: 11326

Re: Chipping away at the mortgage

No. You're still having to come up with that full amount of money to pay to the lender. Even when you're the one of four taxpayers who exceeds the standard deduction and gets any tax deduction for your mortgage interest -- which the OP no doubt is -- you're still paying a large net percentage of yo...
by jimb_fromATL
Mon Jul 24, 2017 10:33 pm
Forum: Investing - Theory, News & General
Topic: Traditional IRA or ROTH
Replies: 38
Views: 3889

Re: Traditional IRA or ROTH

Here are some points to ponder: IMO whether the tax-deferred or or Roth IRA is likely to be the better option depends as much as anything else on your crystal ball or best guess at how high your income and tax brackets will be after retirement compared to while you're working. With tax-deferred plan...
by jimb_fromATL
Mon Jul 24, 2017 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: Help with Amortization Schedule with Extra Payments
Replies: 33
Views: 3981

Re: Help with Amortization Schedule with Extra Payments

Ask your buddy why he would bother paying down a 3% mortgage. That's the relevant question. If he insists on paying it off early, he'd be better off starting tomorrow with less money per month than waiting for two years (assuming that he's not currently on payment #24). I have a 3.5% Mortgage and I...
by jimb_fromATL
Mon Jul 24, 2017 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: Chipping away at the mortgage
Replies: 48
Views: 11326

Re: Chipping away at the mortgage

The $104,000 investment has guaranteed that the loan will be paid off in 82.3 months at a total cost of 104000 + (82.26 x 2253.95) = $289,402 with $24,146 interest paid to the lender. That's $51,110 less interest paid to the lender, Yes, it's $51,110 less interest paid to the lender. And since it's...
by jimb_fromATL
Mon Jul 24, 2017 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Chipping away at the mortgage
Replies: 48
Views: 11326

Re: Chipping away at the mortgage

Here's another table similar to the one previously posted. This assumes paying an extra $100K (your original $104K proposal in case of prepaying closing costs) and the same choices of rolling in the closing costs, hiding them in a higher rate, or paying them out of pocket. This also assumes about 1....
by jimb_fromATL
Mon Jul 24, 2017 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Chipping away at the mortgage
Replies: 48
Views: 11326

Re: Chipping away at the mortgage

Because I don't think it is worth paying all of the costs to refi to a 15 yr for the amount of time I would have the loan. If I make a $104,000 payment, and continue to make the $800 monthly payments, my mortgage would be paid off in a little more than 10 years (and that's from the beginning of the...
by jimb_fromATL
Mon Jul 24, 2017 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Help with Amortization Schedule with Extra Payments
Replies: 33
Views: 3981

Re: Help with Amortization Schedule with Extra Payments

Well I got the same outstanding balance after month 168 as you did and using two different approaches - by your premise I should be way off after 168 months , how to you explain that ? - but anyway thanks for the feedback Jim, I'll take another look at it - always open to a peer review . You arrive...
by jimb_fromATL
Sun Jul 23, 2017 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Help with Amortization Schedule with Extra Payments
Replies: 33
Views: 3981

Re: Help with Amortization Schedule with Extra Payments

I also came up with a little more than 168 months - would be curious how the OP derived his answer Probably with a spreadsheet and the standard math functions ... like #cruncher did ... or perhaps with an online calculator that also uses the standard math library functions to build an amortization ...
by jimb_fromATL
Sat Jul 22, 2017 8:58 am
Forum: Personal Finance (Not Investing)
Topic: Debt: pay down student loan or car loan
Replies: 11
Views: 1452

Re: Debt: pay down student loan or car loan

I might not pre pay either. Do you have an ef of 3 months at least? Are you getting at least the match on a 401k? How about a roth? You should at least max a roth before paying down very low int rate loans. If debt repayment is your goal I would leave the car completely alone and "just pay as ...
by jimb_fromATL
Fri Jul 21, 2017 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Chipping away at the mortgage
Replies: 48
Views: 11326

Re: Chipping away at the mortgage

30 yr fixed 4.125% mortgage w/ current balance approx $265,256. Mo. payments are $1,453.95 and we pay an additional $800/mo. Is the following thinking correct? VCADX yields 1.81% with a duration of 5 yrs. We are 25% fed, 9.3% CA. So, that's a rate 34.3%. Hence we are paying 2.71% on the mortgage af...
by jimb_fromATL
Fri Jul 21, 2017 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Help with Amortization Schedule with Extra Payments
Replies: 33
Views: 3981

Re: Help with Amortization Schedule with Extra Payments

Here is a link to a sample spreadsheet I uploaded to GoogleSheets that you might want to use as a starting point to write your own if you don't have access to the Excel template. You can download this one or copy it to your own ID to work on in GoogleSheets online. https://docs.google.com/spreadshee...
by jimb_fromATL
Thu Jul 20, 2017 11:31 pm
Forum: Personal Finance (Not Investing)
Topic: help: paying mortgage vs investment ...(advise needed)
Replies: 6
Views: 697

Re: help: paying mortgage vs investment ...(advise needed)

Sorry for your loss. When there are such serious disruptions to your life, it might not be a good idea to make any major financial decisions for a while. GIve yourself plenty of time to get used to the change in your life and to weigh all the pros and cons of what you might want to do in the future....
by jimb_fromATL
Thu Jul 20, 2017 2:07 pm
Forum: Personal Investments
Topic: ROTH TSP
Replies: 2
Views: 469

Re: ROTH TSP

How much income do you have? IMO there's no little to no advantage in contributing to the Roth TSP when you have space available in Roth IRAs. If you're in a position that gets matching payments, then contribute up to the match ... which is tax deferred. Then if your income is within the MAGI limits...
by jimb_fromATL
Wed Jul 19, 2017 4:19 pm
Forum: Personal Investments
Topic: Move FTABX (tax free bond) to mortgage?
Replies: 11
Views: 1661

Re: Move FTABX (tax free bond) to mortgage?

,,, I have 6 months in an EF (cash savings) and and my taxable account is another 24 months (60/40 AA). In addition, I am maxing my 50+ 401k ($24k), backdoor Roth ($12k for wife and I) and megabackdoor Roth ($16k). I also put an additional $75k into my taxable annually. With match, that's about $71...
by jimb_fromATL
Wed Jul 19, 2017 10:34 am
Forum: Personal Investments
Topic: Move FTABX (tax free bond) to mortgage?
Replies: 11
Views: 1661

Re: Move FTABX (tax free bond) to mortgage?

I have $25k in tax free muni bond fund (FTABX) in my taxable account that I am thinking of moving over to my mortgage (2.2% effective interest rate). Don't need the money for anything in particular and the 2.2% would beat/match the muni bond returns. Seems like a 6 one way / half dozen the other ki...
by jimb_fromATL
Wed Jul 19, 2017 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Rates in 3 years?
Replies: 26
Views: 3695

Re: Mortgage Rates in 3 years?

My girlfriend and I are discussing our financial future/retirement. We plan to buy a house in 3 years or so. ... - 1 has a job (me) - about 80k/year salary by the time I get the house. This is a much bigger issue than the possible rate in the future. I've been participating on consumer forums for m...
by jimb_fromATL
Tue Jul 18, 2017 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: 4% mortgage rate vs 2.5% BND yield
Replies: 92
Views: 14351

Re: 4% mortgage rate vs 2.5% BND yield

Ironically, there have been polls that have shown that about 2/3 to 3/4 of taxpayers are opposed to eliminating the mortgage interest deduction, even though only 1/4 of them get any benefit from it at all. That's proof of how powerful the hype is from the mortgage/banking/housing industry. Perhaps ...
by jimb_fromATL
Tue Jul 18, 2017 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Advice Needed - Investing, Saving, Debt reduction
Replies: 26
Views: 3311

Re: Advice Needed - Investing, Saving, Debt reduction

All of my debt is paid off. To date I have paid off 223k. All credit card debt, car loans, student loans, 401k loans and my 2nd mortgage. The only debt that I have left is my 1st mortgage. Congratulations. My finances Income - 160k - 200k my DW does not work. 131k in my 401k - currently only able t...
by jimb_fromATL
Tue Jul 18, 2017 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Best way to help sick in laws financially.
Replies: 14
Views: 2080

Re: Best way to help sick in laws financially.

I hadn't thought of retrofitting the house although I think it would be hard to do. The stairs are those open winding death trap type stairs. The house also has multiple sunken rooms separated from each other by two to three steps. We would definitely have to look for companies that specialize in t...
by jimb_fromATL
Tue Jul 18, 2017 8:23 am
Forum: Investing - Theory, News & General
Topic: S&P 500 monthly trading
Replies: 1
Views: 524

Re: S&P 500 monthly trading

Symbol ^GSPC on Yahoo appears to be the data you're looking for. Yahoo's downloadable historical data has been on-again-off-again flakey for about a year or more, but when it's working it has historical closing data and and volume in downloadable format for ^GSPX in choice of daily, weekly, or month...
by jimb_fromATL
Tue Jul 18, 2017 7:55 am
Forum: Personal Finance (Not Investing)
Topic: 4% mortgage rate vs 2.5% BND yield
Replies: 92
Views: 14351

Re: 4% mortgage rate vs 2.5% BND yield

Even better, if the market crashes or you have a financial setback you can hold off on investing your freed-up payments for a while. Vanguard or Fidelity cannot foreclose on your house if you stop investing for a while, but your mortgage lender will if you stop making payments, no matter how good y...
by jimb_fromATL
Mon Jul 17, 2017 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to help sick in laws financially.
Replies: 14
Views: 2080

Re: Best way to help sick in laws financially.

... my FIL who is almost 75 was planning to work until he dropped so they could preserve savings. We have no idea how much they actually have in savings, but do not believe it is very much. ... My MIL is in good health and age 72. They do own their home outright but it's kind of shabby... ... They ...
by jimb_fromATL
Mon Jul 17, 2017 6:38 pm
Forum: Personal Investments
Topic: Invest the rest of the year in a tax account or save toward 2018 Roth
Replies: 9
Views: 1001

Re: Invest the rest of the year in a tax account or save toward 2018 Roth

We have met most of our financial savings for the year except for my wife's 401k which will be accomplish by the end of the year. ? It can't hurt to save to be able to max Roths for next year. But what may give you the most bang for the buck in the long run depends partly on what that "goal&qu...
by jimb_fromATL
Sun Jul 16, 2017 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: 4% mortgage rate vs 2.5% BND yield
Replies: 92
Views: 14351

Re: 4% mortgage rate vs 2.5% BND yield

My young cohorts think I am making it up when I recall the early 80's. When young, a low interest-rate mortgage is such a blessing (IMO).... Been there. In the early and mid 80's my company (AT&T) was having trouble getting people to accept promotions to move from Atlanta regional headquarters ...
by jimb_fromATL
Sun Jul 16, 2017 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: 4% mortgage rate vs 2.5% BND yield
Replies: 92
Views: 14351

Re: 4% mortgage rate vs 2.5% BND yield

Because the question isn't mortgage vs total bond fund, the question is mortgage vs overall portfolio return. If your overall portfolio is expected to return less than a tax adjusted 4% then yes, it would make sense to pay down your mortgage. Ah ha! I think that's exactly it. You nailed it and that...
by jimb_fromATL
Sun Jul 16, 2017 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: 4% mortgage rate vs 2.5% BND yield
Replies: 92
Views: 14351

Re: 4% mortgage rate vs 2.5% BND yield

Why are seemingly so many on this forum (and elsewhere) often so keen on not paying down a mortgage balance, but at the same time willing to buy BND at its current "low" yield level? I get that in a practical sense you lose liquidity paying down a mortgage and having some BND allocation i...
by jimb_fromATL
Sun Jul 16, 2017 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Buying beach bungalow in San Diego for Winters
Replies: 55
Views: 6603

Re: Buying beach bungalow in San Diego for Winters

You have 20x expenses and spend more than you make. Forget about paying double rent for even part of the year that makes no sense. As it is you're on a path towards never retiring. I have a <2% withdrawal rate, will get an $18K pension when I turn 65 and will receive significant Social Security ret...
by jimb_fromATL
Sun Jul 16, 2017 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Buying beach bungalow in San Diego for Winters
Replies: 55
Views: 6603

Re: Buying beach bungalow in San Diego for Winters

... regarding my budget being unrealistic... ... unique financial situation ... ... my own business ... early 40s... weird combination of assets and income. I've got about $1.2MM, very roughly split 50% taxable, 30% tIRA/401k, and 20% Roth IRA/401k. My business makes about $40K a year, though it ha...
by jimb_fromATL
Sun Jul 16, 2017 7:48 am
Forum: Personal Finance (Not Investing)
Topic: Buying beach bungalow in San Diego for Winters
Replies: 55
Views: 6603

Re: Buying beach bungalow in San Diego for Winters

Don't do it! You become a full time California resident and are subject to state taxes. Worse, living part time or by owning real estate, you might still be considered a full time tax resident. I'm pretty sure CA is like other states, in that if you're self employed, you'll pay state income tax onl...
by jimb_fromATL
Sat Jul 15, 2017 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: Buying beach bungalow in San Diego for Winters
Replies: 55
Views: 6603

Re: Buying beach bungalow in San Diego for Winters

You mention the rent covering the mortgage. So whether you can get a satisfactory mortgage might be a question to address. Since it won't be your primary home, you probably cannot get the best mortgage rate, and may have to pay more than 20% down. And even if you can rent it for enough to cover the ...
by jimb_fromATL
Fri Jul 14, 2017 1:27 pm
Forum: Investing - Theory, News & General
Topic: Considering a TSP loan to pay off student loans
Replies: 36
Views: 5114

Re: Considering a TSP loan to pay off student loans

...Buuut... If the amount of the TSP loan exactly replaces the amount being held in the TSP G Fund it is irrelevant what the balanced portfolio of the TSP earns. Technically the "loan" balance is no longer invested, but its overall effect on the TSP account is exactly the same as if it ha...
by jimb_fromATL
Fri Jul 14, 2017 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Invest or pay off >$200k Income Based (IBR) student loan?
Replies: 13
Views: 2861

Re: Invest or pay off >$200k Income Based (IBR) student loan?

... that can be some or all of your stable value allocation, and you can invest in a more aggressive allocation of stocks in the funds in the accounts. Sounds like a great idea. Know of anyone having actually done that? Lot of people here discuss doing it, and it stands to reason. In the long run i...
by jimb_fromATL
Fri Jul 14, 2017 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Reducing Monthly Interest Payments with a HELOC?
Replies: 10
Views: 1637

Re: Reducing Monthly Interest Payments with a HELOC?

Could there be a mis-understanding about the term "interest only"? If you pay only the interest on the unpaid balance every month, you will still owe the original balance 10 years from now. "... We are borrowing enough to pay off our primary mortgage and then using the interest only ...
by jimb_fromATL
Thu Jul 13, 2017 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Reducing Monthly Interest Payments with a HELOC?
Replies: 10
Views: 1637

Re: Reducing Monthly Interest Payments with a HELOC?

IMO it is not clear whether you're planning to borrow enough to pay off the first mortgage, or just to reduce the balance by the amount you borrow with a HELOC. Part of my confusion is that you discuss interest-only payments , but that does not pay down the debt on the HELOC. It also means you will ...
by jimb_fromATL
Thu Jul 13, 2017 7:53 am
Forum: Personal Finance (Not Investing)
Topic: Structuring payoff offer for house in foreclosure, above water
Replies: 27
Views: 4021

Re: Structuring payoff offer for house in foreclosure, above water

Hopefully the deliberate defacing of the house will stop once the threat of foreclosure is past. If the home is not underwater, then defacing it is destroying his/her own equity. It's not hurting the big bad mortgage company or the IRS. It's taking money out of his own pocket. Aside from family dyn...
by jimb_fromATL
Wed Jul 12, 2017 11:33 pm
Forum: Personal Finance (Not Investing)
Topic: Borrower-Paid vs. Lender-Paid Compensation
Replies: 3
Views: 741

Re: Borrower-Paid vs. Lender-Paid Compensation

omega wrote:I am in the process of buying first home. Which one you would choose - Borrower-Paid vs. Lender-Paid Compensation? Which is best for me in case of 30 year loan?

Thanks
Compensation in what form, for what purpose?

jimb
by jimb_fromATL
Wed Jul 12, 2017 11:05 pm
Forum: Personal Finance (Not Investing)
Topic: Reducing Monthly Interest Payments with a HELOC?
Replies: 10
Views: 1637

Re: Reducing Monthly Interest Payments with a HELOC?

Hello all, We are thinking of taking out a HELOC because the interest rate quoted to us at the moment is 3.18%. We currently have a fixed rate mortgage at 4.375%. When breaking out our current monthly mortgage payments into the interest and principle portions, we realize we can lower the interest p...
by jimb_fromATL
Wed Jul 12, 2017 10:37 pm
Forum: Personal Finance (Not Investing)
Topic: Structuring payoff offer for house in foreclosure, above water
Replies: 27
Views: 4021

Re: Structuring payoff offer for house in foreclosure, above water

Foreclosure is not worth it to the family: the family knows that if the house is lost, the "owner" will end up in some other relative's basement. Family situations suck. The family has just decided to pay it all off, with or without cooperation, effectively folding it into a new note whic...
by jimb_fromATL
Wed Jul 12, 2017 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: APR on Mortgage from 3.55% to 3.48% Good Deal?
Replies: 6
Views: 854

Re: APR on Mortgage from 3.55% to 3.48% Good Deal?

No way that it could be worthwhile. There's a .5% VA funding fee in addition to closing cost that typically run in the range of 1% to the maximum allowable of 2% of the new mortgage balance. How much is your balance, and what your payment for P&I alone? Need to know the Principal and Interest fo...
by jimb_fromATL
Wed Jul 12, 2017 8:52 pm
Forum: Personal Finance (Not Investing)
Topic: How to calculate tax benefit of owning a home
Replies: 34
Views: 3834

Re: How to calculate tax benefit of owning a home

Mortgage interest deduction doesn't benefit a lot of taxpayers but realtors and bankers love it. ...and they push it so well that in a Gallup poll a few years ago 60% of Americans were opposed to eliminating the mortgage tax deduction even though only 25% of taxpayers get any benefit from it at all...
by jimb_fromATL
Wed Jul 12, 2017 6:30 pm
Forum: Personal Consumer Issues
Topic: Home made "Trail mix"
Replies: 13
Views: 1382

Re: Home made "Trail mix"

I have observed that Aldi's seems to be the least expensive place for buying ingredients to make your own trail mix -- with whatever mix of nuts and fruits and berries and candy you wish

jimb
by jimb_fromATL
Wed Jul 12, 2017 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Structuring payoff offer for house in foreclosure, above water
Replies: 27
Views: 4021

Re: Structuring payoff offer for house in foreclosure, above water

I don't think any of the parties have any reason to accept less than they're owed. If the actual value is anywhere close to what you say, the first mortgage lender can get all of their money from the sale, including all back interest, late fees, legal fees, and expenses. They typically don't get to ...
by jimb_fromATL
Wed Jul 12, 2017 4:48 pm
Forum: Personal Consumer Issues
Topic: Virgin Mobile unlimited talk, text, data for $1?
Replies: 16
Views: 3361

IMO, not a good company for seafood or cellphone service any more

I used to be a Virgin Mobile customer for years. However next time I want to get scrod, I’ll go to a seafood restaurant, not Virgin Mobile. Many years ago, they were the lowest cost provider for low-usage cell phone service -- at about $80 per year for a year of coverage for about an hour of usage p...
by jimb_fromATL
Wed Jul 12, 2017 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Invest or pay off >$200k Income Based (IBR) student loan?
Replies: 13
Views: 2861

Re: Invest or pay off >$200k Income Based (IBR) student loan?

After matching out your 401k, pour all of your money into it The more I read, the more I start thinking this makes sense, and splitting the difference (leaning more on repayment rather than investment) is a better option. Not in your tax brackets. If you want to put your money to its best use to bu...
by jimb_fromATL
Tue Jul 11, 2017 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: $10k House (hypothetical) at 3.75% rate, you pay $6,672.16 in interest after 30 years?
Replies: 49
Views: 6874

Re: $10k House (hypothetical) at 3.75% rate, you pay $6,672.16 in interest after 30 years?

Paying off the mortgage yields the mortgage rate, less any tax savings, which is the after-tax rate on the mortgage. Likewise, investing the money yields the investment return rate, less any taxes. To reiterate, money is fungible. Once you get the extra money from the mortgage tax deduction into yo...
by jimb_fromATL
Tue Jul 11, 2017 3:26 pm
Forum: Personal Investments
Topic: Rental Sold, High Interest SL's Paid Off, Now What Do I Attack?
Replies: 26
Views: 2461

Re: Rental Sold, High Interest SL's Paid Off, Now What Do I Attack?

Do NOW 1. Stop paying extra on the house. 2. Stop taking on new debt (unless new student loans can be had for cheaper than old ones, in which case it makes sense to take out the new loan and use to pay off an older more expensive one). 3. Contribute enough to an HSA to cover all your annual medical...
by jimb_fromATL
Tue Jul 11, 2017 2:02 pm
Forum: Personal Investments
Topic: Rental Sold, High Interest SL's Paid Off, Now What Do I Attack?
Replies: 26
Views: 2461

Re: Rental Sold, High Interest SL's Paid Off, Now What Do I Attack?

Given this info, even more so work on the student loans. Your debt level is high with respect to both your income now and even your future income. ... I would really work hard on reducing that debt. Once that is complete, you are far more free to invest with impunity. But you will not be free to ma...
by jimb_fromATL
Mon Jul 10, 2017 3:49 pm
Forum: Personal Investments
Topic: Where to put 65k cash
Replies: 64
Views: 7072

Re: Where to put 65k cash

Ideally 50/50 to 60/40 because I couldn't withstand to lose more than 25% of my fund in a given year. But I want very diverse, safe, and at least a 5-7% return on my investments. But its tough because bonds are pretty volatile as well but doesnt have the same returns as stocks. So definitely divers...
by jimb_fromATL
Mon Jul 10, 2017 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: $10k House (hypothetical) at 3.75% rate, you pay $6,672.16 in interest after 30 years?
Replies: 49
Views: 6874

Re: $10k House (hypothetical) at 3.75% rate, you pay $6,672.16 in interest after 30 years?

jimb , I did try to follow your long post, but it just seemed like a tautology: taking $X and paying down a 3.75% loan or buying a municipal bond @ 3.75% will have the same result. One of the reasons for the long post was because a lot of people think that the tax deduction means that paying off th...