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Alert- Virginia Recordation Tax on Refinances Changing

  When ordering Virginia Title Insurance for a Virginia refinance please take note of changes coming to the recordation tax that the State charges. When providing a GFE disclosure for new Virginia refinances take note of changes on the way starting July 1, 2012. We want you to be aware of a change to Virginia Code § 58.1-803(D) - which concerns the calculation of recordation tax on a refinance deed of trust. The code section has been revised to eliminate the exemption for amounts refinanced with the same lender. Instead, … [Read more...]