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February 4, 2021
Question

1098 question: "was this loan paid off or refinanced with a different lender in 2020?" If refinanced with the same lender, do I answer No?

  • February 4, 2021
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1 reply

RayW7
February 4, 2021

You would answer Yes to the question that the loan was paid off or refinanced with a different lender. 

Technically, your original loan with your lender was paid off since you are no longer paying on that loan with its original terms.  Now you have a new loan with new terms, although with the same lender, for your refinanced loan.