What does it mean for me?  

Recapture Tax and Rescission Letters

I have received a letter titled “Rescission Letter” and I am not quite sure what this means.

 

This means is that you no longer are subject to a self-reporting federal tax indicated on the form you signed at close titled “Recapture Notice.” If you do not do your own taxes, you speak with your Tax Adviser/Professional so they are aware, as IHDA does not give Tax Advice. This does not affect the payment or terms of your mortgage in any way. 

Still curious about recapture tax? Review our guide to recapture tax! 

 If you have any questions on this or anything else, contact us!
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