Home refinance

[river041]

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]

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.

[river041]

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

[DaveF1006]

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