1098 form

[sandcfort]

Hoping someone can explain this prior to me calling customer service on Monday. we paid off our loan with MVCI in 2019 and the 1098 says we have an Outstanding mortgage principal. I have my release document but no reference to any remaining balance.
thoughts?

 

[Billikan]

If you are referring to Box 2 of form 1098, this box reflects the balance as of Jan 1, 2019. I assume you paid this off in 2019 and had a balance at the beginning of the year. Is this accurate? The definition of this box can likely be found on the description for box 2 on the back of your 1098.


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[mbstn6254]

I think what you are seeing is a balance that was there on January 1, 2019. If you received a letter from the mortgage company stating it was paid off, that's what is important. The 1098 just shows what you paid in interest, I believe, during the year