Renters - Stop paying someone else's mortgage!

Are you or someone you know renting a home or condo? If so, did you realize that renters pay the owner's mortgage? And the owner gets all the benefits, including being able to deduct property taxes and mortgage interest (even when most or all of the mortgage payment is paid by the renter!) from his tax liability, and depreciation.

If your monthly rent is $600, after one year, you will have paid $7,200 of your landlord's mortgage; after 3 years: $21,600; after 5 years, $36,000.

If your monthly rent is $900, after one year, you will have paid $10,800 of your landlord's mortgage; after 3 years: $32,400; after 5 years, $54,000.

One last painful example (for you, not your landlord): if your monthly rent is $1500, after one year, you will have paid $18,000 of your landlord's mortgage; after 3 years: $54,000; and, after 5 years, $90,000!

Wouldn't you rather use that money to pay your own mortgage? Instead of throwing your money away on rent, build equity in a home of your own. Interest rates continue to be quite low; many homes and condos are currently vacant and eager for a loving homeowner. And, sellers are waiting for offers right now. Call me and we'll talk!