When i did a loan modification Intrest and Fees were added to the end of my loan.
I paid 2k to do a loan Mod and then when the mod was complete the bank added the intrest i didn't pay back into my mortgage. since it was technically paid can i deduct that intrest paid? My balance on my mortgage went up so techincally the bank was paid. by msr2011 from Saint Johns, Florida. Feb 17th 2011
Rich Constantine (rconstantine)
#399 ranked lender in California - 79 contributions
CPA is the best way. Sounds like a forebearance.
Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions
You should check with a CPA.
Dan Paladin (dpaladin)
#356 ranked lender in California - 792 contributions
As my colleagues have mentioned best to consult a CPA though you should receive your yearly 1098 mortgage interest statement which would inform you of your interest paid for the year...
Patrick McCarthy (PatrickM)
#22 ranked lender in Ohio - 196 contributions
Sound like the bank was not actually paid, as they added the back interest to the loan amount. If it was paid, your balance would have not increased. If you would like to discuss this further, please feel free to contact me at 866-901-3576.
Alexander K (alex@ogimb.com)
#400 ranked lender in California - 56 contributions
Call me for more details: Alex 213-739-4332
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