I am refianancing my mortgage, combining 2 loans and was told today I need to have 00 at closing because of these tax stamps.
Chosen Answer:
It's a mortgage tax and it's based on a percentage of the amount you are going to borrow. Seems like a lot of money. Maybe you need to shop around to get better closing costs for your refinancing. The mortgage company (or bank) has to provide you, by law, a detailed description of all closing costs before the closing. Don't go to the closing if you haven't been provided that. Again, shop
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