Question about taxes

[Michmom321]

I have been lurking for a while, and I have to say that I am impressed with how helpful and polite everyone is here! My question is this, we filed a 13 in March, we had our 341, but I do not know how we are going to make it with a family of 4 on what we have left after the plan payments. We included our house in the plan, hoping to save it even though we are upside down with two mortgages. I know it will be hard to rent, though, since we have already filed. If we decide to keep the house, can we still deduct the mortgage interest on our taxes? We would lose that if we go to a rental home. If we lose it anyway then we may have to go the rental route if we can find one.

[CindyLou]

If you are still paying the mortgages then you can still deduct the interest in the year it was paid.