If you pay off your home mortgage early, you may have to pay a penalty. You can deduct that penalty as home mortgage interest provided the penalty is not for a specific service performed or cost incurred in connection with your mortgage loan.
Would a "Early Closure Fee" Citibank charged for closing a home equity line of credit early fall into this catagory? I'm thinking yes but wanted to bounce it off someone.
Would a "Early Closure Fee" Citibank charged for closing a home equity line of credit early fall into this catagory? I'm thinking yes but wanted to bounce it off someone.
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