In the 12 months of refinancing, add the applicable quantity of interest paid on the old mortgage and the applicable quantity of interest paid on the model new mortgage, and enter the total on Form 8396, line 1. If you refinance your unique mortgage mortgage on which you had been given an MCC, you should get a new MCC to have the power to claim the credit on the brand new mortgage. The amount of credit you’ll have the ability to declare on the new loan may change. Table 2 summarizes the way to figure your credit when you refinance…