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A brief history on the Mortgage Interest deduction

I remember when I was looking to buy my first home, I searched for reasons to justify the higher monthly payment as compared to paying the rent on my apartment. One of the justifications that I heard from my friends had to do with the mortgage interest that I would pay along with the principal each month. It is part of an acronym called PITI which stands for Principal, Interest, Taxes, Insurance.

Just recently, I came across an interesting article on the mortgage interest deduction, and I thought others might enjoy learning how it came to be.


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