The logic is that refinancing a home mortgage is not considered the origination point and that the refinance does not reset your origination point. Your logic, that it is a new loan with a new origination point, is also sound. When the IRS guidelines don't cover a specific it is logical to take the terms most favorable. Since the IRS doesn't specifically say that a refinance resets the loan origination date we have all been operating as though it does not. And until the IRS issues more firm guidance we will continue to do so.
@zomboo
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