Are home loan modification fees tax-deductible?
We paid $1500 to a compny to negotiate the terms of a home loan modification (unsuccessfully). Is this fee tax-deductible? by Brandy from Fontana, California. Jan 21st 2010
Leo Harvey (LHARVEY)
#6 ranked lender in Pennsylvania - 149 contributions
Our Tax professional says no. That fee is similar to a legal fee for other services which also is not deductible. The tax mod company should have refunded the fee if they were not successful like most reputable companies do.
Debra Clark (Debra Clark)
#146 ranked lender in California - 42 contributions
I do not believe they are, but you should really discuss with your tax accountant.
J Martin (jmarr91)
#10 ranked lender in Georgia - 25 contributions
Not deductible. Also, if the company is not reputable, I would report them. Did you sign an disclosure agreement concerning their fees?
Ask our community a question.
Get an answer
Related Questions
