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englishfreak2004
New Member

Found my question, but the answers made no sense, so I re-post: "I purchased a home & loan was sold to another lender... I'm confused on what to enter for each lender.

1. I paid points when I took out the loan with the original lender.
 I've recorded the points under the 1098 for the original lender, but what do I put for the "Tell us about any points paid to..." the second lender?  Technically the choice "No points were paid for this loan" is not accurate because it's the same loan, but I already recorded the points under the previous lender.  What do I check here for the new/current lender to whom the loan was sold?

2. Again, for the new/current lender, "Is this the original loan you took out to purchase the property?," do I say yes because it's still the original loan, just different company, or do I say no because it's not the company with whom I took out the original loan?
9 Replies
retiree
Level 7

Found my question, but the answers made no sense, so I re-post: "I purchased a home & loan was sold to another lender... I'm confused on what to enter for each lender.

The sale of your loan from one lender to another should not affect any of the terms of your original loan as long as you did not make any changes to the loan.  You should only be concerned about the address you send your payments to  --that most likely will change.

englishfreak2004
New Member

Found my question, but the answers made no sense, so I re-post: "I purchased a home & loan was sold to another lender... I'm confused on what to enter for each lender.

This is not the question I'm asking.  Please respond to the questions asked in the additional details, which are specific to how to answer TurboTax questions.
retiree
Level 7

Found my question, but the answers made no sense, so I re-post: "I purchased a home & loan was sold to another lender... I'm confused on what to enter for each lender.

Perhaps you should re-ask your 'original' question, since this is the only question of record for your user name.
englishfreak2004
New Member

Found my question, but the answers made no sense, so I re-post: "I purchased a home & loan was sold to another lender... I'm confused on what to enter for each lender.

Can you see the numbered "additional details" for my question?  I'm the second person to ask them, but no one is answering them.  Also, I can't "post" my actual questions because there aren't enough characters allowed.  Someone asked my exact same question that I have and the answers to his or her question made no sense and did not actually answer the questions.
VolvoGirl
Level 15

Found my question, but the answers made no sense, so I re-post: "I purchased a home & loan was sold to another lender... I'm confused on what to enter for each lender.

You can enter all your details in a comment box.  No limit.  Try asking your whole question again in this thread.  And there was a bigger box below to post all the details when you first posted the question.   Can you copy and paste the link to the other question like yours?
englishfreak2004
New Member

Found my question, but the answers made no sense, so I re-post: "I purchased a home & loan was sold to another lender... I'm confused on what to enter for each lender.

In 2018, I bought a home and paid points for my loan.  The lender sold my loan to another lender several months later.  I entered both 1098 forms.  I entered the points under the information for the original lender.  TurboTax asks 2 questions I don't know how to answer. 1. For the new/current lender, do I check "No points were paid for this loan" or not?  I already entered the points for the original lender, but technically, it wouldn't be correct to check that no points were paid since it's still the same loan, just sold to a different lender.  AND 2. For the second/new/current lender, TurboTax asks if it is "The original loan used to purchase the house" (or something like that)... Do I say that the new lender loan IS "The original loan" or not?
retiree
Level 7

Found my question, but the answers made no sense, so I re-post: "I purchased a home & loan was sold to another lender... I'm confused on what to enter for each lender.

Don't over think your questions.  Go back and re-read (slowly) my first post above.
englishfreak2004
New Member

Found my question, but the answers made no sense, so I re-post: "I purchased a home & loan was sold to another lender... I'm confused on what to enter for each lender.

So for the second 1098, I should say "yes" that I paid points and re-enter the amount paid AND I should also say "yes" to indicate it is the original loan used to purchase the home?
retiree
Level 7

Found my question, but the answers made no sense, so I re-post: "I purchased a home & loan was sold to another lender... I'm confused on what to enter for each lender.

The 'points' you paid were on the original loan (unless you had to re-negotiate the loan and pay points for the second loan). The original loan also was the loan used to purchase the house.  In fact, YOU had nothing to do with the new loan --that resulted when YOUR bank sold your loan.
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