Real estate tip: Two mortgages may be better than one

How do I maximize my tax situation when buying a house?

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

If you are looking for the maximum tax write-off, combine an interest-only first mortgage for 80 percent of the purchase price with a 10 percent second mortgage. Most conventional second mortgages have amortized payments. But if you can find sellers who will carry a second mortgage, they might be willing to accept interest-only payments. *** Send a Letter to the Editor for publication.Send a comment or news tip to our newsroom. Please include the headline of the story....