Saving Old Refi Packets

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Saving Old Refi Packets

Postby RenoJay » Sat Feb 09, 2013 8:16 pm

I've refinanced four times in the past 2 years. Is there any reason I need to save the huge pile of paperwork from loans I no longer have?
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Re: Saving Old Refi Packets

Postby JamesSFO » Sat Feb 09, 2013 9:09 pm

IMHO Make sure you save the release documents for the closed loans. Given the (ongoing) robosigning scandal, the document showing they released your note is useful to keep.
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Re: Saving Old Refi Packets

Postby porcupine » Sat Feb 09, 2013 9:12 pm

JamesSFO wrote:IMHO Make sure you save the release documents for the closed loans. Given the (ongoing) robosigning scandal, the document showing they released your note is useful to keep.

Are those documents not online nowadays anyway?

- Porcupine

PS: I do keep my paperwork (I am a packrat), but am just saying ...
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Re: Saving Old Refi Packets

Postby JamesSFO » Sat Feb 09, 2013 9:19 pm

porcupine wrote:
JamesSFO wrote:IMHO Make sure you save the release documents for the closed loans. Given the (ongoing) robosigning scandal, the document showing they released your note is useful to keep.

Are those documents not online nowadays anyway?

- Porcupine

PS: I do keep my paperwork (I am a packrat), but am just saying ...


Mine aren't for any of my refis...
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Re: Saving Old Refi Packets

Postby porcupine » Sat Feb 09, 2013 9:25 pm

JamesSFO wrote:
porcupine wrote:
JamesSFO wrote:IMHO Make sure you save the release documents for the closed loans. Given the (ongoing) robosigning scandal, the document showing they released your note is useful to keep.

Are those documents not online nowadays anyway?

- Porcupine

PS: I do keep my paperwork (I am a packrat), but am just saying ...


Mine aren't for any of my refis...

That is strange. And where online are you looking for them (if you don't mind my asking)? Ours here are located in the local county comptroller's website.

- Porcupine
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Re: Saving Old Refi Packets

Postby HouseStark » Sat Feb 09, 2013 11:33 pm

As far as any of the information relates to anything on your tax returns, it should be retained for seven years, or until the financed property is sold and that tax return year is at least three years old. Tax return items: if you deducted or amortized purchase or refi mortgage points, if you need to establish that mortgage interest was deductible for both regular and AMT, if the statements document items that are included in the cost basis of the property. So, pretty much forever to be safe.
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