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When you pay the mortgage interest on your first mortgage then it is tax-deductible. By the amount of interest that has been paid on the loan for the tax year, a homeowner can reduce their taxable income. <\/p>
However, only taxpayers who itemize expenses on their tax returns will benefit from the mortgage interest tax deduction.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t