What are the tax consequences if a family member refinances your mortgage?

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bankrate.com ... this article explains what you probably need to know. There seems to be a federal minimum rate (which varies by the amount and term of the loan), which must be charged before it's considered a gift. There may be a way around it, however.
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How do you refinance a mortgage?

Refinancing a mortgage can usually be a very simple process as long as you have the correct information and you are working with a mortgage company that communicates with you

Do family members have to pay inheritance taxes?

Answer . Generally, inheritance taxes are paid by the estate. However, under present federal tax laws estates under $2M are not taxed. There may be state inheritance tax con

Can i file taxes for my family members?

You may certainly help family members prepare their taxes. But they must sign their own tax returns unless you have a formal power of attorney (Form 2848) on file with the I

Can we refinance a balloon mortgage to a fixed mortgage?

Yes, usually through the lender that originally financed you. They want their money, right? So, if you cannot make the balloon payment when due, it is in their best interest t

How can you refinance your underwater mortgage?

There is a program that can help you and the others. I think the company is Freedom USA Investing and they help people with underwater mortgages. They are able to put equity b

Can you claim family member on your tax return?

Yes this is possible BUT Only if all of the rules are met by you and the family member for you to qualify to be able to claim the qualifying dependency exemption on your 1040

Can a family member buy the house that is in a reverse mortgage?

Only if they pay off the outstanding debt owed on the mortgage Only if they pay off the outstanding debt owed on the mortgage Only if they pay off the outstanding debt owed
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How can you refinance your home mortgage?

To refinance your home mortgage, you can go to a bank or credit union with the proper paperwork from your original mortgage and ask for refinance. There's usually fees involve
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What is the rate for refinance mortgage?

There are many different refinancing opportunities for you at this time. A few of the available rates are a 30 year fixed rate from 4.250%, a 5/1 Arm rate from 2.5% and a 15 y