Rules of the house: The tax ins and outs of refinancing

Description

Abstract: Many homeowners have come face to face with the issue of refinancing their mortgages in recent years. What they may not have realized, when starting the process, is that they also have to deal with certain tax issues related to the refinancing, such as the impact of a straight replacement loan vs. cash-out refinancing. This article explains those concepts and their tax impact, while also taking a look at the tax treatment of “points.”