April 19 2010
MORTGAGES; Suit Takes Aim at Recording Tax
BORROWERS in Modern York may not be sensitive of this: They pay some of the highest closing costs in the woods, because of a mortgage-recording tax that scarcely any other states levy. But depending on the after-effect of a lawsuit now being argued in Novel York Supreme Court, those who come into the possession of mortgages through federal credit unions in the state may be adept to avoid that tax, and put away thousands of dollars on a leverage or refinancing.