On Wed, 22 Apr 2015 08:44:46 -0400, Ed Pawlowski wrote:

On 4/21/2015 11:23 PM, krw wrote:


Sure, sometimes you just can't lose. ...until you do.
In the USA you have the added benefit that your mortgage interest is
tax deductible (on your primary residence? or any?)

Any residence, with some restrictions at the very top end. The
mortgage interest deduction applies to vacation homes, including boats
and RVs, as well. Of course interest on rental property is deductible
as a business expense, as well.


Interest on a car loan is NOT deductible, but it is on a home equity
loan. Some people take the home equity loan and then use the money to
buy a car. Not legal, but done every day.

Of course it's legal. There is *nothing* in the law that says what
you have to use your money for.