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Level 2
posted Mar 26, 2025 3:04:22 PM

Form 1098 question, Is this loan secured

I own a second home, which I have a loan for. I don't live there, it's just a vacation place. On my 1098 Box 7 is not checked, but box 8 contains the address of this vacation home. Box 9 says the number of properties securing the mortgage is 001.  

I would say that this means that the home/property is what is securing my loan and I should say yes, it is secured??

I feel dumb to ask this, but these forms are not so forthright with information... 

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1 Replies
Expert Alumni
Mar 26, 2025 3:08:11 PM

Yes, you would say yes.  If the mortgage on the second home is secured by the second home, then you would say yes.  It does not matter that it is a vacation home.