Mortgage refinance: points credited not paid

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  • LCP
    Senior Member
    • Dec 2005
    • 432
    #1

    Mortgage refinance: points credited not paid

    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.
    Tags: None
    • Gretel
      Senior Member
      • Jun 2005
      • 4008
      #2
      see this post:

      Main Forum / Tax Discussion - TMI Message Board
      http://www.thetaxbook.com/forums/showthread.php?t=16693
      Primary Forum for posting questions regarding tax issues. Message Board participants can then respond to your questions. You can also respond to questions posted by others. Please use the Contact Us link above for customer support questions.

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        • LCP
          Senior Member
          • Dec 2005
          • 432
          #3
          Originally posted by Gretel
          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.

            Comment

            • okie1tax
              Senior Member
              • Jun 2008
              • 177
              #4
              Points credited

              GovInfo
              http://edocket.access.gpo.gov/cfr_2009/aprqtr/24cfr3500AppA.htm
              Official Publications from the U.S. Government Publishing Office.


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

                Comment

                • BP.
                  Senior Member
                  • Oct 2005
                  • 1750
                  #5
                  Originally posted by okie1tax
                  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.

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