| outflow of capital from investors to commercial mortgage wales without as many personal business ties as the past. For example, in a refinance, if the new mortgage term is 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 commercial mortgage wales you refinance with the existing lender. In this case you would have to continue to amortize the remaining points over the life of the new loan, together with any points commercial mortgage wales 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 |
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