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than in years past, allowing for more rapid outflow of capital from investors to borrowers without as many personal business ties as the past. For example, in a refinance, if the new mortgage term federal home loan bank of boston for 30 years and you paid $3,000 in points, you would claim an annual deduction of $100 for the points paid. If you refinance, sell or pay off the mortgage early, you can deduct the remainder of the points in that year. The one exception to the deduction would be if you refinance with the existing lender. In federal home loan bank of boston case you would have to continue to amortize the federal home loan bank of boston points over the life of the new loan, together with any points paid on the new refinance. Taxpayers who bought $1 million homes expecting a generous tax break could be in for a shock, said Michael Fratanponi, senior director of single family research and economics at