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I have a question - maybe you can help. I completed a loan modification in May 2019 with my current lender to get a better interest rate (4.25% to 3.5%) and to shorten the term of the loan (30 Yr Fixed to 15 Year Fixed). I paid a "modification fee" of 1% on the new principal balance. Is this tax deductible? Thank you.
March 13, 2020
8:59 AM