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.