I refinanced a first mortgage and a Home Equity loan. New loan is over $750,000. Closing on the 22nd of January of this year (2018). Will I face any tax liabilities?

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This refinance will not affect your 2017 tax return. In 2018, as long as your refinanced debt does not exceed $750,000 (or if married filing separate-$375,000) and it is home acquisition debt, it should be deductible. The only question- your home equity loan-for what was it used? If it was to improve your home, all of the interest deductible.