Same thing here.. I bought some property in Feb 05 for 20k, then ended up in escrow in November 05 for 96k. I was trying to rush along the escrow process(yeah I even rushed selling within the 1 year; didn’t care about paying income rate tax), hoping it wouldn’t fall through… LA times was publishing a bunch of housing bubble articles and I thought it would be just my luck for it to fall through, but everything went fine.
Congrats on the big win! Do you know how much total dollar you paid in interest? Don’t the interest payments end up equaling purchase price in 30 years @ 7%? I don’t know anyone that’s had one loan for 20 years… did your tax deductions go down over time?
