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. 

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

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