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Home acquisition debt is the amount of the mortgage that was used to buy the home.
Grandfathered debt is a mortgage taken out before October 14, 1987. It is not limited by the mortgage interest calculations .
ACQUISITION & GRANDFATHERED DEBT
Thanks! So in most cases, wouldn't this be zero?
If there has been any refinancing, wouldn't this be the amount of the most recent refinance since it says "..on date debt was last secured by home"?
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