http://maxsell.net/intangible-tax-is-not-owed-on-refinancing-debt-with-your-existing-bank/ Buy, sell or lease real estate in North Metro Atlanta, GA. Homes, office space, industrial warehouse, land and investment properties. Wed, 04 Apr 2012 15:24:05 +0000 hourly 1 http://wordpress.org/?v=3.3.2 http://maxsell.net/intangible-tax-is-not-owed-on-refinancing-debt-with-your-existing-bank/comment-page-1/#comment-16140 brian Mon, 17 Oct 2011 18:32:00 +0000 http://maxsell.net/?p=1421#comment-16140 Could you please define orginal lender? I am currently refinancing from Amtrust, A division of New York community Bank, to another affiliate, New York community Bank mortgage LLC, should I pay intangible tax? Could you please define orginal lender? I am currently refinancing from Amtrust, A division of New York community Bank, to another affiliate, New York community Bank mortgage LLC, should I pay intangible tax?

]]> http://maxsell.net/intangible-tax-is-not-owed-on-refinancing-debt-with-your-existing-bank/comment-page-1/#comment-11506 lopas Mon, 28 Sep 2009 06:36:44 +0000 http://maxsell.net/?p=1421#comment-11506 thanks for the great information! thanks for the great information!

]]> http://maxsell.net/intangible-tax-is-not-owed-on-refinancing-debt-with-your-existing-bank/comment-page-1/#comment-11279 doncoia Mon, 31 Aug 2009 18:26:23 +0000 http://maxsell.net/?p=1421#comment-11279 The homeowner not only pays this tax at the time he or she borrows money to purchase the home, but also at each time the home mortgage is refinanced. The current exemption on loans refinancing current debt provided by Code Section 48-6-65 is woefully inadequate in that it exempts refinancing where the new lender is the same lender as the original lender and the original loan has never been assigned. The nature of the home lending business is such now that most home loans are sold and transferred by the originating lender so that few<br> homeowners could avail themselves of that exemption. Thus, intangible taxes on notes which are secured by primary residences prove a hindrance to home ownership and it is in the best interests of the state and the economy of the state to exempt certain residential transactions from the taxes imposed by this chapter. Until HB 647 is passed, Intangible Tax will probably be imposed on any refinance that is not with the original lender. The homeowner not only pays this tax at the time he or she borrows money to purchase the home, but also at each time the home mortgage is refinanced. The current exemption on loans refinancing current debt provided by Code Section 48-6-65 is woefully inadequate in that it exempts refinancing where the new lender is the same lender as the original lender and the original loan has never been assigned. The nature of the home lending business is such now that most home loans are sold and transferred by the originating lender so that few
homeowners could avail themselves of that exemption. Thus, intangible taxes on notes which are secured by primary residences prove a hindrance to home ownership and it is in the best interests of the state and the economy of the state to exempt certain residential transactions from the taxes imposed by this chapter. Until HB 647 is passed, Intangible Tax will probably be imposed on any refinance that is not with the original lender.

]]> http://maxsell.net/intangible-tax-is-not-owed-on-refinancing-debt-with-your-existing-bank/comment-page-1/#comment-11278 doncoia Mon, 31 Aug 2009 15:18:34 +0000 http://maxsell.net/?p=1421#comment-11278 My home loan was originally with one company I forget who, but was sold to Wells Fargo shortly after I bought the house. Now I am refinancing with Wells Fargo and they did not add the intangible tax to the closing fees, but now several weeks after closing, there attorneys call me and say they will be sending me a bill for $600 dollars to cover the tax owed to record the deed. Is this correct? My home loan was originally with one company I forget who, but was sold to Wells Fargo shortly after I bought the house. Now I am refinancing with Wells Fargo and they did not add the intangible tax to the closing fees, but now several weeks after closing, there attorneys call me and say they will be sending me a bill for $600 dollars to cover the tax owed to record the deed. Is this correct?

]]> http://maxsell.net/intangible-tax-is-not-owed-on-refinancing-debt-with-your-existing-bank/comment-page-1/#comment-9857 shawnwiseman Sun, 21 Jun 2009 21:10:01 +0000 http://maxsell.net/?p=1421#comment-9857 That is an excellent artiucle on commercial real etstae, it reminds me of something I learned over at <a href="http://www.thegreatestrealestategiveawayever.com" rel="nofollow">http://www.thegreatestrealestategiveawayever.com</a> which was a cool free resource. Look to learn more from you. That is an excellent artiucle on commercial real etstae, it reminds me of something I learned over at http://www.thegreatestrealestategiveawayever.com which was a cool free resource. Look to learn more from you.

]]> http://maxsell.net/intangible-tax-is-not-owed-on-refinancing-debt-with-your-existing-bank/comment-page-1/#comment-9755 Atlanta Real Estate Updates | Atlanta Real Estate Blog Wed, 17 Jun 2009 18:42:45 +0000 http://maxsell.net/?p=1421#comment-9755 [...] Atlanta Real Estate: Avoid This Cost When You Refinance [...] [...] Atlanta Real Estate: Avoid This Cost When You Refinance [...]

]]> http://maxsell.net/intangible-tax-is-not-owed-on-refinancing-debt-with-your-existing-bank/comment-page-1/#comment-9753 Atlanta Real Estate Updates | Woodstock Real Estate | Open Door Team Wed, 17 Jun 2009 18:41:01 +0000 http://maxsell.net/?p=1421#comment-9753 [...] Atlanta Real Estate: Avoid This Cost When You Refinance [...] [...] Atlanta Real Estate: Avoid This Cost When You Refinance [...]

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