ANOTHER reason not to pay off that mortgage
Listening to Neil Bortz (sp?) on the radio yesterday, he mentioned a bill that democrats have tried to pass.
That is; That you can be taxed on the rental value of your home.
So, if your home is all paid off... no mortgage payment... and your neighborhood homes *rent* for around $1,300 a month, you would have to declare the difference as income.
Now, I don't know if a bill such as this could ever pass, but it doesn't seem too far fetched at all.
I suppose Bortz was warning against allowing Democrats into office.
If this sort of bill passed, I would happily refinance my home at 100% if possible!