Roger Schlesinger

Our lives are full of rules. From the greatest one, The Golden Rule, to the most infamous one, "Don't draw to an inside straight". What we do with the majority of them defines us.

We have so many choices when it comes to rules. We can adopt them, ignore them, rejoice over them, accept them with reservation, or avoid them as if they didn't exist. The one thing I am sure of is that not one of us can say that we follow each and every one. In fact, if we took an inventory, we might find we are on the minority side of rule following and aren't inclined to change. Let's take a look.

Do you exceed the speed limit, not only the big one on the highways, but the smaller numbers around the city? Have you crossed the street outside of a crosswalk? By avoiding or ignoring these rules, will it start us on the way to a life of malfeasance? I think not. Let's ratchet the discussion up a bit and get your thoughts.

Have you "fudged" on your income tax? What if I told you that you unintentionally deducted something you aren't allowed to deduct? What would you do?

When refinancing your house, you are allowed to pull $100,000 out in cash above your current loan to do what you wish with the money. The interest on the entire $100,000 can be deducted, even if you don't put any of the money to work in rehabilitating or adding on to your house. The interest on any monies over the $100,000 is not tax deductible, in cases where none of the money went toward the upgrading of the house. This could present a dilemma to people who are in this situation and have been for some time.

Are you getting the picture? When I was young, it was a badge of honor to sneak into anything you could. I am definitely a reformed sneaker with perhaps some small relapses. While I was in college we always attended the post-game parties of the visiting team and would munch on the h’orderves, drink the drinks, and commiserate or celebrate the other team’s performance. I haven't done it in decades, but it sure was fun. I know some people who buy movie tickets away from the theaters, and even though they are young, select the senior citizen’s tickets. They get them in kiosks or online and save a few dollars. I, myself, would pay a lot of money to not have the senior citizen ticket handed to me without saying anything.

Roger Schlesinger

Roger Schlesinger's Mortgage Minute is heard on hundreds of radio stations and daily on the Hugh Hewitt radio show and Michael Medved shows. Roger interacts with his hosts and explores the complicated financial markets in order to enlighten his listeners and direct them along their own unique road to financial freedom.