Posts Tagged ‘itemization income tax no standard deduction’
Prepayment Penalty Often Enforceable
Question: When we refinanced the $220,000 mortgage loan on our Phoenix home, the mortgage lender charged a 3 percent prepayment penalty of $6,600 to pay off this mortgage loan. Can a lender charge a prepayment penalty without showing that they lost money or some other reason? Are we entitled to an income tax deduction…
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