Re: Advice needed on minimizin - Posted by Tbyrd
Posted by Tbyrd on August 17, 2003 at 02:43:09:
raise insurance deductible as high as possible before closing, reduce it afterwards.This will save a $100 or so.every little bit helps.
ask closing attorney to carry note with attractive interest rate for their fees due at refinancing,especially if you go ahead and tentaviley schedule the refi date with them (if you’re going to cash equity once it’s rehabbed for money to put into other property)
If the bank is charging you an origination fee, have them instead charge you an equal (in dollar amount) number of points instead. Both go to the lender, but origination fees are not tax deductible to you, points may be depending on your situation, thereby getting you some of it back at tax time.
I’d suggest talking with a knowledgable CPA.
hope some of this helps