Mortgage refinance: points credited not paid

[LCP]

I've never seen this before....

Our origination charge.... $1,140.50
Your credit for specific interest rate chosen ....... $1,921.00

Your adjusted origination charge............................................ . ($780.50)

The above reduced other settlement charges.

Seems like it should reduce interest expense....... but it also seems like it should be spread over the life of the loan.

[Gretel]

see this post:

http://www.thetaxbook.com/forums/showthread.php?t=16693

[LCP]

see this post:

http://www.thetaxbook.com/forums/showthread.php?t=16693

Aha... I do see the post now. Just wish there was something of substance in it.

[okie1tax]

Points credited

http://edocket.access.gpo.gov/cfr_2009/aprqtr/24cfr3500AppA.htm

This sorta describes what it is. I don't know how you show it on the 1040 Schedule A.

[BP.]

http://edocket.access.gpo.gov/cfr_20...fr3500AppA.htm

This sorta describes what it is. I don't know how you show it on the 1040 Schedule A.

What a useful link, and good info on the subject.