My mortgage was sold to another company in January 2023, no cash and continued paying same monthly amount as before. Why isn't the full amount of interest paid allowed?

The loan balance did not increase, nor did the payment. Why are we penalized by our lender's selling our mortgage to another firm?

posted

The system is adding the mortgage balances together and disallowing the deduction over the amount of $750,000. Go back to the mortgage forms you entered and change the mortgage balance of the older company (the first one that sold the mortgage) to zero and that will fix the problem.

@jsb512----936

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