Coming Soon - PHH Mortgage is changing its name! Learn More
Yes. We encourage you to ask for assistance if necessary. While it is possible that the bankruptcy discharge eliminated the personal obligation to repay the debt, the lien of the security instrument remains on the property.
READ MOREYes. All of the above information regarding discharge and the lien status applies to both first and second mortgage accounts.
READ MOREThe IRS Form 1098, also known as the Mortgage Interest Statement, is used to report mortgage interest payments totaling $600 or more made on a single mortgage during the calendar year.
READ MOREForm 1098 only reports mortgage interest payments that we received during the calendar year. If you made interest payments to another company, you may receive a separate Form 1098 from them. Additionally, any mortgage interest paid using funds from the Homeowner Assistance Fund Program (HAF) is excluded from the total reported on Form 1098.
READ MOREReal estate taxes disbursed are reported in Box 10 (Other) on the Form 1098 as a courtesy to help you identify potentially tax-deductible amounts. However, this amount is provided for informational purposes only - it is not reported to the IRS and may differ from the amount you're eligible to claim on your tax return.
READ MOREThe amount shown in Box 1 - Mortgage Interest Received from Payer(s)/Borrower(s), reflects the mortgage interest amount and late charges received from the payer of record during the tax year. It does not include prepaid interest, or any interest paid using Homeowner Assistance Fund (HAF) resources. It may also include negative amortization (deferred interest) paid. If your loan originated during the tax year, Box 1 may include closing interest paid. If your loan was paid off...
READ MOREFor customers receiving mailed statements: Your year-end tax information will be included with your January billing statement and postmarked no later than January 31 (or the next business day). You should receive it within 7-10 days after mailing. For customers enrolled in paperless: Your year-end tax documents will be available in the Document Center on or before January 31. You'll receive an email notification once they're ready to view or download.
READ MOREIf you don't receive your mortgage interest statement by mail, you can access it online in the Document Center once it's available. For customers not enrolled in paperless delivery, statements are mailed by January 31 (or the next business day). For customers enrolled in paperless delivery, your tax documents will be posted online, and you'll receive an email notification when they're ready.
READ MOREYou may receive more than one IRS tax form if any of the following occurred during the tax year: Loan transfer: If your loan was transferred to a new servicer, you'll receive a statement from both your previous and current servicers, each covering the period they serviced your loan. Refinance: If you refinanced your loan, you'll receive separate statements for each loan number - one for the original loan and one for the new loan. Assumption: If there was a change in borrowers...
READ MOREThe Form 1099 may be income received related to your mortgage, debt which was discharged, or another event reportable to the IRS which took place during the year. There are several different types of 1099 forms, but you will only receive a form applicable to you. Form 1099-A (Acquisition or Abandonment of Secured Property): Issued when a foreclosure, or similar event occurs. The IRS requires this form if we acquired an interest in the property or has reason to believe the...
READ MORE