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juliag04 · Joined: 24 Jan 2010 Posts: 1 1.34 Dollars($)

Since my mother passed away, three (3) years ago, I have been paying the mortgage...can I claim those payments this year (2009) for tax purposes? I have never claimed them before, I am currently in the home, paying the mortgage, but this the first year I have paid the mortgage all by myself. I was left the home, along with my sister in my mother's will. We are not able to finance a home loan, because of our credit, but we continue to pay the home loan. Thanks for your help!

jerry · Posted: Mon Jan 25, 2010 3:09 am Post subject:

Hi juliag,

The property could be in your name, but the mortgage is still in your mother's name. So, you are legally not responsible for the mortgage payments and you cannot claim deductions for mortgage payments. A refinance would have been the best option as it would have helped you put your name on the loan and claim the deductions related to the mortgage. However, since your mother is deceased, you can talk to your lender and check out if you can take over the mortgage through simple assumption. Once you assume the mortgage, you can claim the deduction for the mortgage payments.

Thanks,

Jerry

gmakerley · Posted: Mon Jan 25, 2010 9:09 am Post subject:

when you approach the lender (if you do), as jerry suggested, i advise that you go in armed with documentation showing that you've been making the payments since your mom's death. after all, you cited poor credit as a reason for not being able to refinance, and that could prevent them from seriously taking your desire to assume the loan into consideration. by letting them know that you've been responsible enough for that period of time to pay the mortgage despite not being obligated, you may well persuade them to agree to an assumption.

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