step up in basis
More Things People Wish They'd Known About Refinancing
Continued: By focusing on lowering their payment, some refi customers lose sight of these other effects of a mortgage refinance.
Everywhere you look today, people are jumping on the refinancing bandwagon. Interest rates are way down, though not as shockingly low as they were earlier in the coronavirus pandemic. With a refi, people are hoping to seize the moment and secure a lower payment, a shorter term, or both. Yes, there's quite a few reasons to jump on the bandwagon.
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