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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 Reply
Vanessa A
Employee Tax Expert

Form 1098 question, Is this loan secured

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. 

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