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mortgage points

Level 3

Taxpayer refinanced mortgage and paid points, and are being amortized over life of new loan. If the loan is bought by a different lender, can the unamortized balance be deducted or must the points continue to be amortized according to the original schedule?

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2 Comments 2
Level 15
Level 15

I "think" since its the same loan, they continue to carry. 

You'd only write them off completely when they refi into a new loan or pay it off.

Level 11
Level 11

Continue to amortize according to the original schedule

If at first you don’t succeed…..find a workaround