Home refinance

3 replies
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We refinance and we received 3 different 1098 forms. We had a HERO loan for the house and we had that paid off with the refinance. Is that considered as a cash out?

RobertB4444

Alumni - Intuit

If your new mortgage was larger than your old mortgage so that you could take cash out of the new loan to pay off debt then yes, that's a cash out.

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river041Author

Level 2

It was a “lien” on the house, it’s stated as a 2nd mortgage loan. Still a chashout?

DaveF1006

Alumni - Intuit

Yes, it is still considered a cash out and the interest is not deductible since the loan was not used to improve your home.

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Home refinance

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