[Hot Tabasco]

$19,200 annual mortgage interest

$4,800 annual State Income tax

$4,800 annual Property tax

Right there, the first line is your biggest problem................

$19,200 mortgage interest alone based on a $140K salary? You're screwed bro. I'd love to see the house you bought for that rate and money.

But it all comes back to your state and its taxes doesn't it? That's your problem, you choose to live there..........

[Mariner]

A $400k home is easily affordable on $140k.

[Paladin2]

If the Feds want to tax interest income inflow, ALL paid out Interest should be deductible as it’s NOT YOUR INCOME!

It’s someone else’s Income.

Simple really.

[Red Steel]

$19,200 annual mortgage interest...

$19,200 mortgage interest alone based on a $140K salary? You're screwed bro. I'd love to see the house you bought for that rate and money.

"Among the other tax breaks, negotiators agreed to eliminate the alternative minimum tax for corporations, a big sticking point for the business community, the aides said. They also agreed to let homeowners deduct interest on the first $750,000 of a new mortgage, down from the current limit of $1 million.

The provision would not affect current mortgages."

http://time.com/5062837/house-senate-gop-tax-bill-agreement/