Dec
12
1 interest payment following refinance not included in 1098, can I include this in my mortgage int deduction?
By
I refinanced my primary residence in 2007 (only the principle / no cash back / no debt consolidation, etc.). My 1098 from the original note holder did not include all the mortgage interest paid – only that through the payoff date. The 1098 did not include the accrued interest since the payoff date was prepaid and the actual payoff was made. This is result of mortgage interest being paid in arrears. My account statement with the original note holder identifies this activity.
I paid all the interest, but for some reason it was not included in the 1098. The lender has not been helpful. The new note holder (or seller) did not pay any interest, so that is not applicable.
Any assistance is greatly appreciated.
Sell and Rent Back
Related articles:
- Can I deduct the mortgage interest that I paid on Jan 1, 2008 but is for Dec since mortgage is paid arrears? I need some clarification on this matter. I know mortgage payments are paid in arrears. Meaning the payment due on the first (ex: Jan 1) is actually for mortgage...
- Consider Mortgage Payment Protection For Peace of Mind If you want peace of mind that you would not be at risk of losing your home to repossession then consider taking out mortgage payment protection. A policy would...
- Cover Redundancy With Mortgage, Loan or Income Payment Protection You are able to cover redundancy with mortgage, loan or income payment protection depending on your needs. All policies can be taken out independently with specialist providers and this...
- mortgage missed payment so they say? due to a missed payment error on mortgage company, we moved into our new house 1st of nov, we missed the first payment due to an admin error on...
- I just made a mortgage payment on 4/29/08. Is that for April or May? Basically I want to know if mortgage payments are made in arrears or paid ahead? And we also pay into our escrow account at that time, is that the...
1 Comments
September 2nd, 2009 at 5:55 am
The interest through the payoff date on the old mortgage is all that you actually paid. It would be included on that 1098. If you think that the 1098 is in error, contact the lender and see if you can convince them that it’s in error and issue a corrected 1098.
I’m not sure what you mean by “or seller” as this is a re-fi. There is no seller!