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billyg35

Deferred Amount on payoff

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I sold and payed off my Mortgage in 2016. I did have a  " Deferred Amount"  to also pay off due to some financial difficulties many years back.

My question is this  considered interest? 

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On 1/27/2017 at 0:26 PM, billyg35 said:

I sold and payed off my Mortgage in 2016. I did have a  " Deferred Amount"  to also pay off due to some financial difficulties many years back.

My question is this  considered interest? 

No.  If you deferred payments on the mortgage then that is all they are deferred payments.  Part of the payment is probably interest but the majority should be principle of you were at the end of the mortgage when the payments were deferred.

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