Some years ago, my mortgage lender contact me about refinancing my home at zero cost. The rate wasn't the best, but good enough and much better than my current one. That coupled with the zero cost, settled it in my mind.
I was fully informed that it was actually a HELOC for the same value
as my mortgage balance and that, for all purposes, it would be
equivalent to a new mortgage, including tax-wise. Or is it?
- posted 12 years ago