Tax question reguarding my mortgage lender.?

Deal Score0

When taking deductions, I have to enter the name of my mortgage lender. My mortgage payments have switched around to different loan servicers over the span of my home ownership. For instance, right now and for the past year and a half, I have been making my payments to Home Eq Servicing. The Loan was issued by Wells Fargo, when teh house was bought origionally. So do I enter my current recipient, or the origional Wells Fargo?

  1. Reply
    April 29, 2011 at 10:26 pm


  2. Reply
    April 29, 2011 at 11:04 pm

    they sell the account so list who you are sending the payment to now.

  3. Reply
    April 29, 2011 at 11:17 pm

    Enter the name that is listed on the 1098 sent by your mortgage company this year. If you have multiple statements, enter the name of each lender.
    Mortgages are sold all the time, so the name can change. If you refinance as well, you will have a new lender, so always list your current one, or the name from the form.

  4. Reply
    Amanda H
    April 30, 2011 at 12:14 am

    Enter who is currently receving your payments as of Dec. 2006. If it switched halfway through the year, you would list each mortgage company and the portion you paid to them in interest. you should have gotten a statement from each company you paid interest payments to at any point in 2006.

  5. Reply
    April 30, 2011 at 12:34 am

    You enter the name of the lender shown on the Form 1098. I had a loan passed around 3 times one year; it’s not unusual at all.

  6. Reply
    April 30, 2011 at 12:54 am

    Each company that you made payments to last year should send you a separate 1098. You need to enter each 1098 into your tax software separately. Use whatever name is on the 1098, even if that is not the name you use on the checks.

    Leave a reply

    Register New Account
    Reset Password