[net.taxes] Amortization of "Points"

jimla@tekig5.UUCP (James G. Larsen) (03/05/86)

The following method could be used to amortize the loan origination fee 
on refinancing a home mortgage.  The lender supplies a "Loan Disclosure 
Statement" that shows the actual "Annual Percentage Rate" which must 
include the effects of "prepaid interest".  Get a printout of the 
mortgage amortization table using the actual Annual Percentage Rate 
rather than the quoted rate, and you will have the effective interest 
deduction including points amortized over the life of the loan.  

Jim Larsen