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uaw239gm Asked About ' Why You Should Refinance Your Home Mortgage Loan This 2009'

I need to refinance to pay off an ex-spouse. Due ...

I need to refinance to pay off an ex-spouse. Due to my recent credit history, my brother is being added to the new loan and to the title of the house. His plans are to move here once he sells his current home. Would he still be subject to the IRS rules of refinance in relationship to the points being paid on the loan or would he be able to claim them all in one year as a new home purchase?

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Answers

RateNerd
RateNerd Answered:

This is a tricky one, and I would suggest you consult your tax attorney or CPA to make sure you set it up with the desired outcome (assuming your brother is looking to receive some tax benefit).  You can also check out these refinance tips which may help you.  

ratenerd

ratenerd

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