interest write off

chip88 profile photo

hi ! My question is, we plan to lease option our home. Our mortgage payment is $669. We are asking $775 that gives us $105 cash flow. We count on our interest, which is a sizable amount, for end of year tax write off.
If the leasee wants to pay more to add to the principal, would this change the interest ?? Then I feel this would be coming out of our monthly mortgage payment??...At the end of the 2 years, we are planning to just break even, with the leasee buying the home at the cost left to the mortgage co. plus closing costs. Please comment smile

Comments(0)

Add Comment

Login To Comment