Comments on: Only the Mortgage Left! http://frugalbabe.com/2007/08/29/only-the-mortgage-left/ A rich life without a lot of money Fri, 05 Dec 2008 06:46:13 +0000 http://wordpress.org/?v=abc By: Steven http://frugalbabe.com/2007/08/29/only-the-mortgage-left/#comment-13167 Steven Wed, 12 Sep 2007 16:23:26 +0000 http://frugalbabe.com/2007/08/29/only-the-mortgage-left/#comment-13167 Congrats. One slight correction though. Since mortgage interest (HELOC) is tax deductible you have to look at the effective annual after tax interest rate. To get that take the 8.35% and then subtract your tax bracket as a percentage. If you are in a 33% tax bracket you would subtract 33% from the 8.35% for an effective annual after tax interest rate of 5.5275%. Same thing goes for people with college loans as the interest is deductible on federal taxes. Cheers Congrats. One slight correction though. Since mortgage interest (HELOC) is tax deductible you have to look at the effective annual after tax interest rate. To get that take the 8.35% and then subtract your tax bracket as a percentage. If you are in a 33% tax bracket you would subtract 33% from the 8.35% for an effective annual after tax interest rate of 5.5275%. Same thing goes for people with college loans as the interest is deductible on federal taxes.

Cheers

]]> By: Kim http://frugalbabe.com/2007/08/29/only-the-mortgage-left/#comment-11773 Kim Fri, 31 Aug 2007 12:35:21 +0000 http://frugalbabe.com/2007/08/29/only-the-mortgage-left/#comment-11773 That must be the most amazing feeling. I'm so happy for you. We are 3/4 of the way done paying off 34K in credit cards and medical bills. I long for the day that I can post about my big pay off!!! Congratulations!!! That must be the most amazing feeling. I’m so happy for you. We are 3/4 of the way done paying off 34K in credit cards and medical bills. I long for the day that I can post about my big pay off!!! Congratulations!!!

]]> By: green3 http://frugalbabe.com/2007/08/29/only-the-mortgage-left/#comment-11676 green3 Thu, 30 Aug 2007 20:29:00 +0000 http://frugalbabe.com/2007/08/29/only-the-mortgage-left/#comment-11676 Woo Hoo! You are an inspiration to the rest of us to keep moving forward!! Woo Hoo! You are an inspiration to the rest of us to keep moving forward!!

]]> By: dana http://frugalbabe.com/2007/08/29/only-the-mortgage-left/#comment-11666 dana Thu, 30 Aug 2007 17:23:08 +0000 http://frugalbabe.com/2007/08/29/only-the-mortgage-left/#comment-11666 awsome congrats. I hope to join you some day!!!! awsome congrats. I hope to join you some day!!!!

]]> By: Kris http://frugalbabe.com/2007/08/29/only-the-mortgage-left/#comment-11547 Kris Wed, 29 Aug 2007 17:05:13 +0000 http://frugalbabe.com/2007/08/29/only-the-mortgage-left/#comment-11547 Congratulations! That's fantastic, man. What a load off. Congratulations! That’s fantastic, man. What a load off.

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