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Tax benefits of a French mortgage?


MisterT

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I own a "residence de tourisme" in the French Alps and I need some advice about whether or not to pay out the mortgage. Is there any great tax benefit (or any other benefit) in maintaining a mortgage in France? Income from the property is not huge, so I would expect to pay income tax on about 5,000 Euro each year which equals about the interest payments on the loan. It seems to be six of one and half a dozen of something else, but are there any tax or legal issues that would affect this decision?

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