Mtg interest, Points paid, RE Taxes on Closing Statement

[Unregistered]

Do the mortgage companies include the information on the closing statements (interest adjustments, points paid, real estate taxes paid, etc.) on the 1098?

[oceanlovin'ea]

I don't think so

From my experience, the only amounts reported on the 1098 are from the payments made after loan is made.
I have looked at closing statements and print outs from mortgage companies (some have the year detailed on bottom of 1098) and it doesn't seem they include closing amounts.

Linda F

[Jesse]

Depends

on the company. Some do, some do not.

Also I have found that the RE taxes paid are not always correct as an escrow check may have been released to the taxpayer, but he may not have paid the taxes in that year, for example, the check was released to the taxpayer in December, but the taxpayer did not pay the taxes until January because the bill was not actually due until 1/31.

Or, the escrow check released could be more or less than the actual taxes due.

[Brian EA]

Do the mortgage companies include the information on the closing statements (interest adjustments, points paid, real estate taxes paid, etc.) on the 1098?

What Jesse said is correct.: however you need to ask the client to bring in the HUD statement to double check

[Unregistered]

Points, maybe, the rest no.