Can I itemize my mortgage interest paid in my taxes?
In order for me to qualify for this I need to meet this requirement::
“The mortgage or home equity loan must be secured by your home. This means that you specified your home as collateral for the loan.”
I wasn’t aware that there was anything else I could “specify” as collateral for my loan. If I don’t pay my mortgage, the bank gets the house. It’s that simple.
So, can I go ahead and take this deduction?